Crypto wallet issuance surges: MetaMask leads the charge, accelerating the battle for ecosystems

Crypto wallets are one of the most crucial pieces of infrastructure in the industry. As the industry evolves, wallets are no longer simply tools for storing assets; they’ve evolved into ecosystem gateways and value distribution platforms. Some wallets attract users through points systems, NFT airdrops, and the addition of new supported chains, aiming to boost user engagement and ecosystem vitality.

According to industry data, the number of wallet users has exceeded 100 million, and token issuance often comes with high rewards, driving rapid market capitalization growth. Since Metamsk confirmed its token issuance, the previously tepid wallet market has suddenly become lively.

MetaMask: From Rumor to Confirmation

MetaMask, a landmark wallet in the Ethereum ecosystem, boasts over 30 million monthly active users. During the last cycle, many users had high expectations for its coin offering. However, after the market turned bearish, the coin offering plan was shelved.

On September 11th, ConsenSys CEO Joseph Lubin responded to questions about LINEA tokens on Twitter, hinting that at some point in the future, if you hold N LINEA tokens for M days, this may result in another token entering your account. If the values of N and M are larger, you will receive more rewards.

On September 19th of this year, Joseph Lubin officially confirmed in an interview with The Block that MetaMask’s native token, $MASK, would be launching soon, hinting that it might happen “sooner than expected.” Lubin stated that the token would empower users with more decision-making power within the platform and reward active wallet activities like trading and staking.

Although the Little Fox Wallet has been widely criticized for its product updates and user experience, MetaMask is still strengthening its infrastructure, such as launching perpetual contract trading through Hyperliquild within the wallet, listing the stablecoin mUSD, launching social login features, and simplifying the wallet creation and recovery process.

Rainbow is targeting Q4 release

As an EVM-compatible wallet, Rainbow has received positive community feedback for its user interface and user experience. On September 22nd, Rainbow officially announced the launch of its native token, $RNBW, in Q4 2025. Rainbow also introduced a series of other upgrades to the wallet app, including real-time price updates, instant balance refreshes, and improved price charting. Furthermore, Rainbow will launch perpetual contract trading powered by Hyperliquid.

Points are calculated based on historical activity (such as exchanges, asset holdings, and migrations from MetaMask), and users can view their rankings and points through the app. Officials emphasized that $RNBW will be used for governance and fee discounts.

In fact, as early as October 2023, Rainbows tweeted about an airdrop and the phrase “coming soon,” hinting at an upcoming airdrop. However, the announcement was later dropped, and now, nearly two years have passed. In terms of financing, Rainbow has received a total of $19.5 million in investment, led by Seven Seven Six, the venture capital firm owned by Reddit co-founder Alexis Ohanian.

Recently, Rainbow released an open letter proposing to acquire Clanker, proposing to include CLANKER token holders in its broader plan to acquire Clanker. The Rainbow Foundation stated that if the acquisition of Clanker is successful, 4% of the total RNBW supply would be distributed to CLANKER token holders, representing approximately 20% of the circulating supply at the time of the Mã thông báo Generation Event (TGE). However, this proposal has been rejected by Clanker.

Rabby: Polls suggest market capitalization

Rabby Wallet was developed by DeBank and supports 141 EVM chains with over 4.2 million users.

On September 19th, Rabby officials launched a poll on X, asking, “What will the market capitalization of $RABBY be?” This was seen as a clear signal of the token launch. The community speculates a Q4 launch, with the points system launching in January 2024, with initial points distributed to each EVM address, including rewards for retroactive and ongoing activity (such as trading and cross-chain transactions).

Phantom: Official denial of token plan, rumors persist

As a Solana ecosystem wallet, Phantom has high user activity but is conservative about token issuance.

In January 2024, Phantom officially clarified that it had no plans to launch a token or airdrop. However, with the market recovery and the Solana and meme craze, rumors of a token launch continued to ferment. Therefore, in January 2025, Phantom tweeted again to warn meiyou of any plans for a token launch.

Changpeng Zhao calls for TWT, Q4 may be the year of wallet issuance

On September 19, Zhao Changpeng (retweeted the tweet “Trust Wallet Updates Token Litepaper” and said that the TWT token was originally just an experiment. FDV rose very quickly. They destroyed 99% of the supply, but there were not many use cases. Now, (use cases) are expanding.

This order triggered a surge in TWT prices, from a low of $0.8 to $1.53. Its current market capitalization has fallen back to $500 million.

After the Federal Reserve’s interest rate cut and whales taking profits, the strong performance of the mật mã market has cooled down again. However, as liquidity returns at the end of the year, the next three months may be a good opportunity for wallets to issue coins.

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