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Airdrop rumors result in a swarm of activity on MetaMask Swap and Polygon

Published 11/18/2021, 04:35 PM
Updated 11/18/2021, 06:20 PM
ETH/USD
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Five- to six-figure-size airdrops have become the new norm in the crypto sector, and a growing number of analysts believe there are more to come. In September, dYdX distributed a massive airdrop to early users, and last week, the Ethereum Name Service gave out roughly $17,000 to $30,000 in ENS tokens to platform users. Anticipation of additional “helicopter money” has also led to a flurry of airdrop hunters seeking out the next big score.

The mad dash to engage with protocols and qualify for possible token drops led to an uptick in activity on Polygon, a popular layer-two platform, and MetaMask. Since last week, rumors that MetaMask may release its own token have been circulating, and this is reflected in the increased engagement on MetaMask Swap.

MetaMask swap volume vs. daily active users on Polygon and Ethereum. Source: Delphi Digital
MetaMask 2021 revenue. Source: Delphi Digital
Average cost of gas on Polygon. Source: Polygon Scan
MetaMask swap statistics. Source: DappRadar

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