2025-01-26
MetaMask, widely known as an Ethereum
wallet, is planning to expand its support to Bitcoin according to Decrypt.
Users can expect to use MetaMask for
Bitcoin transactions along with Ethereum and other blockchain functionalities.
MetaMask is expanding beyond Ethereum.
MetaMask, historically tied to Ethereum, is making a strategic leap into
the multi-chain ecosystem, starting with Bitcoin integration.
This move aligns with user behavior, as
decentralized finance (DeFi) and other crypto activities now extend across a
wide array of blockchain networks, including Solana and Bitcoin.
Consensys recently posted a job opening
for a product manager focused on building MetaMask’s “end-to-end Bitcoin
experience,” signaling a commitment to incorporating Bitcoin’s ecosystem,
including Ordinals and Runes.
MetaMask's has multi-chain features
Snaps
Introduced in 2023, MetaMask Snaps
enables modular wallet functionality through community-driven add-ons,
facilitating interactions with non-Ethereum networks like Solana and Cosmos.
Cross-Chain API
Expected later this year, this feature
will allow decentralized applications (dApps) to connect and operate across
multiple networks, supporting at least 50 non-EVM chains.
Ethereum’s ecosystem has stagnated
compared to the surging attention towards Bitcoin and Solana, which have seen
record-breaking price movements and user activity.
Criticism has emerged around the
Ethereum Foundation’s focus on niche technical advancements over broader
community and market engagement.
Amid these challenges, Ethereum creator
Vitalik Buterin has adopted a more aggressive leadership style, described as a
“wartime” vibe, in response to growing competition from Solana and other
networks.
Rival wallets, such as Magic Eden and
Phantom, have already made multi-chain moves, supporting Bitcoin, Ethereum,
Solana, and others. Phantom boasts 15 million monthly active users, while
MetaMask reported 30 million MAUs in January 2024.
Projects like Pudgy Penguins have
embraced multi-chain approaches, launching tokens across networks like Solana.
Analysts recognize that no single
blockchain can currently handle the scale of global, simultaneous viral events,
reinforcing the need for multi-chain solutions.
MetaMask’s transition could set a
precedent, but the wallet faces competition from rivals like Phantom and Magic
Eden, which have gained traction in emerging crypto niches like meme coins and
NFTs.
MetaMask’s multi-chain pivot
underscores a broader industry shift towards interconnected blockchain
ecosystems. With Ethereum no longer the undisputed center of gravity,
adaptability and cross-chain functionality will be key to retaining users and
fostering mass adoption.
