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MetaMask, the popular Ethereum-focused crypto wallet, is set to expand its offerings by introducing native support for Bitcoin (BTC) and Solana (SOL) in the near future. This move comes as the wallet continues to see a surge in its user base and aims to cater to a wider range of crypto investors.
According to a recent announcement by MetaMask, Solana support is expected to be added in May, marking the wallet’s first foray into non-Ethereum Virtual Machine (EVM) support. Following this, the project plans to incorporate Bitcoin compatibility sometime in Q3, further diversifying the assets available on the platform.
The addition of Solana comes at a time when the crypto market is experiencing fluctuations, with SOL showing resilience and surging by 7.5% recently. Currently ranked as the sixth-largest crypto asset by market cap, Solana is trading at $147.49 at the time of writing, showcasing its growing popularity among investors.
MetaMask’s decision to introduce these new features aligns with its growing user base, which has seen significant growth in recent months. The wallet’s developer, Consensys, reported that the number of monthly active users (MAU) increased from 19 million to over 30 million between September 2023 and January 2024, representing a growth of over 55%. This surge in user adoption brings MetaMask close to its historical high of 31.7 million MAU recorded in January 2022.
In addition to expanding its offerings, MetaMask has also been making strategic partnerships to enhance its user experience. A recent collaboration with Robinhood allows MetaMask users to purchase crypto assets directly within the wallet using Robinhood’s order engine, streamlining the trading process for investors.
Furthermore, MetaMask recently settled a dispute with the U.S. Securities and Exchange Commission (SEC) regarding allegations that the wallet was acting as an unregistered securities broker. The resolution of this issue paves the way for MetaMask to continue its growth trajectory and focus on providing innovative solutions for crypto enthusiasts.
As MetaMask prepares to integrate Bitcoin and Solana support into its platform, users can look forward to a more diverse range of assets to manage and trade within the wallet. These developments signal MetaMask’s commitment to staying at the forefront of the crypto industry and catering to the evolving needs of its expanding user base. Subscribe to stay updated on the latest developments in the world of crypto and blockchain technology.