Introduction

Everybody in Crypto space know Metamask, the most used and most popular Web3 wallet out there. But Metamask is not just another wallet to keep your assets safe, but in addition to this feature Metamask provide the possibility to interact directly with projects apps with an easy UI and unique experience.

for the first time in FlipsideCrypto we are going to investigate into Metamask users. This is an introduction to more inquiries forward with more detailed and complicated concepts; But as it is expected our entry will be as simple and basic as it should be.

Methodology

How can you find those who are Metamask users? It's just an Ethereum Address after all. Surely if one creates it's wallet through Metamask can be the best candidate for a true metamask user, But we don't have access to this data, and more importantly this is not something recorded On-Chain and can't be queried using Flipside database. So,we should look for other ways...

One method that seems trustful and implementable is to see which users used Metamask built-in Swap feature. By introducing this feature Metamask turned into kind of an aggregator which looks for perfect price of trades in different DEXs. How can we identify that? Simply, by filtering those who interacted with this router contract of Metamask swap feature which is:

0x881d40237659c251811cec9c364ef91dc08d300c

• I didn't filer them only to "Swap" event_name as there were other activities related to this address to include as much address that was possible.

Data & Analysis

We begin our analysis with identifying total users of Metamask (with aforementioned criteria). Also showing same information on a weekly basis on second visualization.

• I preferred to use event_logs table since it contains more transactions comparing to Dex_Swaps which is limited to uniswap and sushiswap.
• 2022 wasn't a good year in this metric since the number of Metamask swappers decreased constantly since the beginning of 2022.

We are going to calculate and render some more information about these users to get a sense of who they might be! First of all their average amount of ETH balance! As you can see these 1.27 million users have ~ 0.92 ETH in their wallets. So, together with the fact that swapping on Metamask probably isn't the cheapest option, we can say that these users aren't financially tied down!

As swapping is considered as one of the most basic actions in crypto, we wanted to see are these users just basic crypto users or are they active in actions of higher order? For this purpose I implemented two characteristics of NFT Minters and ENS Registrants as higher order, and looked into previous found wallets to see are they active in this sense or not?

• Almost 1/3 of Metamask users had previously Minted at least one NFT and paid collectively ~14 Billion for these mints!
• 114633 of the initial 1.27 million had registered one ENS or more. They own 524598 ENS domain collectively.

Conclusion

Also we are sure that Metamask users are more than 1.27 million, but on this criteria alone, it seems that these people are average or elite users which are active and financially strong enough to mint high price NFTs and register more than one ENS domain.