Crypto wallets are growing up, fast.
They’ve evolved from simple digital storage tools into full-blown ecosystems. Whether you’re swapping tokens, joining a DAO, staking assets, or recovering a wallet via your Telegram group, today’s wallets are doing a lot more than just holding your coins.
Dune’s latest report dives deep into the state of crypto wallets in 2025, and the insights are clear: wallets are becoming the true front door to crypto. And the data? It’s wild.
Wallet Activity Is Surging
Let’s start with the basics. People are using their wallets a lot.
Weekly swap transfers have exploded, jumping from 10 million in 2021 to 33 million by 2025. That’s more than just “growth”; it’s a behavioral shift. Wallets are no longer passive storage, they’re where crypto happens. Token swaps, DAO governance, staking, gaming; it’s all happening inside wallets now.
Global Wallet Adoption Is Booming (and It’s Not Where You Think)
Crypto adoption is going global, but the fastest growth isn’t in Silicon Valley or Western Europe, it’s in emerging markets.
Nigeria, India, Vietnam, and Indonesia are all leading the charge:
- Nigeria: 12% of MetaMask users, 19% of Bitget, and 13% of Rabby come from Nigeria alone.
- India: MetaMask dominates with 63% of the market and 79% of wallet balances. Phantom has just 11% of users but holds 96% of the balances.
- Vietnam: OKX shines with 9% of its total global user base.
- Indonesia: MetaMask again takes the lead with 59% of users and 57% of wallet balances.
These numbers aren’t just impressive, they’re revealing. In many cases, crypto wallets are becoming de facto financial tools in regions underserved by traditional banking.
Wallets Are Becoming Crypto’s “Superapps”
We’re seeing the “WeChat moment” of crypto.
Wallets are no longer just vaults. They’re interactive, modular, and feature-packed. Today’s wallets include:
- Built-in DEX swaps
- Native staking
- NFT displays
- Gaming integrations
- Social layers and messaging
If you think of wallets as mini operating systems for Web3, you’re not far off. We’re heading into a future where a wallet isn’t just a companion to crypto, it is crypto.
Binance Wallet Is in a League of Its Own
Among all the activity, Binance Wallet is dominating the charts. And it’s not even close.
- 80% of swap activity
- 74% of total volume
- A massive push thanks to their zero-fee campaign
For comparison:
- OKX: 7M weekly swaps, $4B in volume
- Bitget: 18M weekly swaps, $2.6B in volume
- MetaMask: 1.4M weekly swaps, $700M in volume
The Smart Wallet Revolution Is Underway
Remember the painful days of seed phrases, gas fees, and transaction signatures for everything?
Those days are numbered.
Smart wallets, powered by ERC-4337, are changing everything:
- Social recovery: Lose your wallet? Recover access through trusted contacts or services.
- Gasless transactions: Third parties can cover fees via paymasters.
- Bundled actions: Stake, swap, and send in one transaction.
- Modular upgrades: Add new features without switching wallets.
Smart accounts are not just more secure, they’re more human. And they’re backed by serious players.
Who’s Leading in Smart Wallets?
The frontrunner is Safe, with:
- 43 million deployments
- 63% of the smart wallet market
Other rising stars:
- Alchemy: 25% market share
- ZeroDev: 6%
- Coinbase Smart Wallet: Growing rapidly, especially on Base
The takeaway? Smart wallets are going institutional and mainstream.
Beyond Ethereum: Wallet Activity Is Spreading
Ethereum is still the heavyweight for high-value transactions, but it’s no longer the only game in town.
Layer 2s like Base and Arbitrum are capturing significant wallet activity. Gas savings, faster confirmation times, and ecosystem incentives are pulling users into L2-native experiences, and wallets are the interface through which it all flows.
Final Thoughts: Wallets Are the New Home Screen
If you want to understand where crypto is headed, look at where the users are logging in.
And they’re logging in through wallets.
From emerging markets to gamified quests, from smart account recovery to gasless UX, wallets are no longer a utility, they’re a platform. A playground. A protocol layer in themselves.
We’re moving from “what chain is it on?” to “what wallet can I use it with?” And that shift changes everything.
At Varinity, we help projects think beyond tokenomics and into real-world experiences. Wallets are more than a feature, they’re a channel. And if you’re building for scale, onboarding, or retention, understanding this shift is critical.
Want help positioning your project at the heart of Web3’s consumer stack? Let’s talk.