This article looks at where and how MetaMask-connected wallets transact across the WalletConnect Network. With $1.87 billion in Total Network Volume (TNV) moved across 4.72 million transactions in H1 2026.
A broad, distributed user base
MetaMask has become one of the most widely adopted wallets in crypto, used by hundreds of thousands of active addresses across Apps.
As a result, their dominance isn't a story of a handful of whales moving the numbers. In H1 2026, 544,000 active wallets, spanning roughly 177,000 distinct transacting addresses, interacted with 13,800 dApps across the WalletConnect Network.
That breadth shows up in the concentration numbers too. The top 20 addresses account for just ~41% of MetaMask's total network value transacted, meaning that ~59%, is spread across the remaining ~177,000 addresses.
MetaMask isn’t just a wallet - it’s where users’ money lives
MetaMask allows users to connect to their preferred apps and carry out transactions across various categories - from DeFi to Payments and beyond.
On the WalletConnect Network, DeFi is the dominant category of users’ MetaMask activity, capturing 81% of all Total Network Value (TNV). This confirms that when MetaMask users move value, it's overwhelmingly to lend, trade, or provide liquidity.
DeFi Apps driving activity
By value, Aave leads. Safe follows as the top wallet app, with Hyperliquid and Uniswap rounding out the leaders.
By transaction count, the picture shifts towards Uniswap, Hyperliquid, and Aave - a signal that trading and onboarding flows generate far more individual transactions than lending does.
A global wallet
MetaMask's TNV is concentrated across a familiar set of global financial hubs, with the UK, Japan, and Hong Kong leading by value.
Volume and reach tell different stories, though. The US ranks only 4th by value but leads decisively on both transaction count (486K) and active wallets (53K) - a sign of smaller, more frequent, retail-sized activity rather than large institutional-style transfers. As the concentration check above shows, the UK's #1 spot is itself substantially the product of one very active address; without it, Japan would top the value rankings.
WalletConnect and MetaMask powering the onchain economy
WalletConnect is the leading global connectivity network for wallets, banks, fintechs, financial institutions, and DeFi. One platform enables secure, compliant money movement with any asset on any chain, providing a single access point to 900M end users, thousands of institutions. MetaMask, as one of the most widely used self-custodial wallets in the world, is one of its clearest proof points. In 2025 alone, the network powered over $400 billion in transaction volume with 119% year-over-year growth In H1 2026, $207.8B was moved across the Network, with stablecoins carrying the large majority of network volume.
Methodology: Figures cover H1 2026 (Jan–Jun). TNV reflects on-chain Total Network Value from transactions signed via MetaMask-connected wallets. Wallet attribution via wallet project name; country via wallet-side geography; category via the dApp's primary industry.