Metamask vs. Other Platforms

    What Will You Read?

    In this analysis, You Will read about Swaps On Metamask Vs. Other Platforms. We want to know How many users are swapping via MetaMask vs other platforms? How much volume have these users doing? Chart a comparison between the two, and show the following metrics over a time period of your choosing: transaction volume, average amount swapped, and a comparison of fees.

    All Data in This analysis is from January 1st on Ethereum Network.

    What is Metamask

    MetaMask is a software cryptocurrency wallet used to interact with the Ethereum blockchain. It allows users to access their Ethereum wallet through a browser extension or mobile app, which can then be used to interact with decentralized applications. Wikipedia

    Method

    I compared Metamask with Sushiswap and Uniswap.

    • Metamask:

      • I set Origin to address to Metamask contract address which is 0x881d40237659c251811cec9c364ef91dc08d300c in ethereum.core.fact_token_transfers table. To get final swaps in each transaction is set origin from address to from address.
    • Uniswap and Sushiswap:

      • It was easy to find swaps on these platforms. I just used the Dex swap table.

    IMPORTANT NOTE: To compare better I eliminate some coins with a lower number of swaps and huge volume on Uni and Sushi swaps.

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    Volume and Average Amount

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    Let's examine Daily's unique Users.

    • Daily unique users on Uniswap is higher than on Metamask and Sushiswap.
    • On some days the total unique users on Metamask are higher than Sushiswap and on some days Sushiswap is higher than Metamak. But in Total Metamask was higher than Sushiswap.
    • Daily Unique users on three platforms is decreasing from January month by month.
    • The highest number of users happened in January on three platforms.

    The below chart shows the cumulative daily unique users.

    • The Cumulative Number of users on Uniswap is 3.4M. A huge difference in comparison to Metamask and Sushiswap.
    • Until March 26th, The total unique users on Sushiswap was higher than Metamask but After that Metamask took Sushiswap's place.
    • The Cumulative number of unique users on Metamask was 709K and On Sushiswap was 636K since January 1st.
    • 72% of users used Uniswap.
    • 14.7% of users used Metamask
    • 13.2% of users used Sushiswap.
    • The below chart shows the total number of swaps on Metamask, Uniswap, and Sushiswap since January 1st. The trends were like a unique user's chart.

    The below animation shows how Unique users on these platforms growth and how Metmask took Sushiswap place.

    Let's Examine the total daily volume on these platforms.

    I should mention that so many coins are available on Uniswap. Every coin is tradable on Uniswap. So the volume would be much higher than the others.

    • The total Volume On Uniswap was much higher than the Metamask and Sushiswap.
    • Susiswap has a similar user to Metamask but the volume is higher than the Metamask.
    • The highest Volume on Uniswap happened on January 21st which was 773M.
    • On the same day as Uniswap, The highest volume on Sushiswap happened with 637M.
    • The Highest volume for Metmask was 65M on January 21st.

    Let's examine the average daily amount on these platforms.

    • The average Daily amount at the beginning of the year was 15-16K on Uniswap. Recently average on Uniswap decreased to below 5K
    • The average daily amount on Metamask was about 3-4K.
    • The average daily amount of Uniswap was similar to Metamask.
    • On April 13th, The average on these platforms increased significantly. For example Metamask reached 30K.

    The below chart shows the cumulative daily volume.

    • The cumulative on Uniswap is 35B dollars.
    • The cumulative on Metamask is 3.8B dollars.
    • The cumulative on Sushiswap is 24B dollars.

    It's time to examine the total daily Fees that are paid by these platform's Users.

    • Uniswap had the highest volume. So it is normal that its users paid huge fees daily. The total fees decreased to 200-300 ETH recently.
    • Metamask users paid fewer Fees in comparison to others.
    • The second place is Sushiswap.

    The below chart shows the average fees on these platforms.

    • Metamask has the lowest average in comparison to Uni and Sushi.
    • The second place is Uniswap.
    • The highest average was for Sushiswap.

    The average fees decreased from January 21st. The highest average was on May 12th.

    Conclusion

    • Uniswap has the highest number of unique users in comparison to Metamask and Sushiswap.
    • Sushiswap and Metamask daily users were similar to each other.
    • Uniswap had the highest volume in comparison to Uniswap and Sushiswap.
    • The Metamask Volume is not much high in comparison to others.
    • Users paid the average fess lower on Metamask in comparison to Uni and Sushi. The second place is for Uni.
    • Sushi have the highest average Fees.

    Thank You For Reading!

    Written By Hess

    where

    discord_id: hess@0890

    and

    twitter_id: hessaminanloo