MetaMask, the Ethereum wallet extension for browser has recently passed over one million users for its Chrome browser extension. This comes in the wake of ETH prices hitting the seven-month high.
The motive behind the creation of this Ethereum wallet extension was to bring Ethereum to the masses and to simplify its usage by integrating the blockchain into the browser. Apart from the Chrome browser, MetaMask extension is also available for Opera, Firefox and Brave browsers.
World’s Second Largest Cryptocurrency On The Surge
MetaMask’s crossed one-million users comes along with the spike in Eth transactions, that doubled from 400,000 to 800,000 in just a month, reports Trustnodes. According to the reports, the transaction fees have remained low while the Gas usage has surged to its highest levels since September. Hash rate is climbing again to a two month high at 175TH/s that indicates the improvement in Network fundamentals.
ETH prices are looking towards $300 mark that catalyzed the surge in network activity. The second-largest crypto asset in the world has made 28% by market capitalization in the past week.
The market capitalization of the Ether has surged again over $30 billion while the dominance of Bitcoin took a hit as a result. All of this contributes to the surge seen in the usage of blockchain tools like Metamask that allows its users to access Ethereum dApps in the desktop-browser without the need of full Ethereum node.
Ethereum’s DeFi markets have also become the standard monetary unit in the nascent financial scene, which can be seen as a bullish sign for the second-largest cryptocurrency too. The Ethereum browser wallet extension can also be used as a source to tap into the DeFi platforms, including Compound and Oasis, to facilitate asset transfer smoothly as well as setting up smart contracts right away.
The Metamask team is currently working on the development of the For of Metamask that would support plugins. Snaps would extend the functionality of Metamask securely and robustly by enabling developers to build plugins.