MetaMasquerade Part 2: MetaMask Most Common Transactions

This article is #2 in my 3-part data article series on Metamask. --Date: 25 June 2022 -- Author: mar1na (catscatscode) -- Q2. What are the most common transactions for Metamask users? Create an analysis that shows the most common wallet activities and the most common platforms for those activities.

This article is Part 2 of "MetaMasquerade: A Look Into MetaMask Data" 🦊 , a 3-part data analysis series I created:

MetaMasquerade Part 1: Total MetaMask Users (go here to read).
MetaMasquerade Part 2: Most Common MetaMask Transactions (this article ⬇️).
MetaMasquerade Part 3: Swaps on MetaMask vs. Other Platforms - Uniswap & Sushiswap (go here to read).

Introduction

This article builds on Part 1, which gave a high-level overview of MetaMask wallets' data, to look deeper into the typical behaviors and platforms engaging these user wallets. What transactions do MetaMask users perform with their wallets, and on which platforms?

Methodology

The time period is from the earliest Flipside data available on these wallets (October 2020) and until the time of this writing on 25 June 2022.

Similarly to Part 1, this analysis considers wallets to be proxy for individual users without filtering out multiple-wallet holders; and it identifies MetaMask wallets as wallets that have used in-app MetaMask swaps (an on-chain method of finding MetaMask wallet that is suggested in the Flipside Crypto MetaMask bounty).

The MetaMask Swap Router contract of interest is 0x881D40237659C251811CEC9c364ef91dC08D300C.

This analysis examines the most common transactions of MetaMask wallets (excluding internal transactions within smart contracts) with all tokens, and the most popular platforms for them, identified with Flipside Crypto's assigned labels.

Data Results

The most popular transactions for MetaMask wallets include transfers (albeit a broad category), swaps, deposits and withdrawals. A small percentage of wallets have also minted, burned, and staked tokens:

About

This analysis was created by catscatscode (Flipside, Twitter, catscatscode#3578 on Discord) on 25 June 2022 for Flipside Crypto's "Most Common Transactions" bounty. This analysis represents the author's best effort at interpreting available data, but it is not financial advice.

Over 67M transfers have been performed by these wallets over time:

Common platforms include protocols for swapping (Uniswap, Sushiswap), bridging tokens (Hop), NFTs (Opensea, Looksrare), and more: