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Deep Dive into the Leading Web3 Wallets' Business Models
Everyone flexes wallet download numbers.
But here’s the truth: users ≠ revenue.
I dug into the data for @Phantom, @MetaMask, @TrustWallet, Coinbase Wallet @base, and @Rabby_io — and found a 20× gap in how much they actually earn per user. 🧵
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