MetaMask Expands Its Network Support and Updates Transaction Features

MetaMask plans to expand its network support and update its transaction features this year. The self-custodial crypto wallet will integrate the Bitcoin network in the third quarter and Solana in May.

MetaMask is planning to expand its network support and update its transaction features this year. The self-custodial crypto wallet will add the Bitcoin network in the third quarter and Solana in May. Solana will be the first non-Ethereum Virtual Machine (EVM) chain on MetaMask.

The company will also upgrade its gas-included swaps feature. Users will be able to pay for swaps with any token they hold. The goal is to eventually remove gas fees from most interactions, Ben Armstrong, host of the crypto YouTube channel "Armstrong World," reported.

Moreover, MetaMask will adopt ERC-5792, enabling batched transactions. This feature will let users combine several actions, such as token approvals and swaps, in one click.

Finally, MetaMask will transition from Externally Owned Accounts to smart-contract-based accounts. This shift is expected to improve security and unlock additional functions.

"MetaMask going multi-chain with native Bitcoin and Solana support in upcoming update. Major overhaul includes smart contract capabilities, multiple seed phrase management, and abstracted gas fees," Armstrong wrote.

Major Updates to Include BTC, Solana, Smart Contract Integration

The crypto wallet is planning to add support for the Bitcoin and Solana networks in the coming months. It will also introduce several new features, such as the ability to create and interact with smart contracts.

The wallet will use ERC-5792 to enable batched transactions, allowing users to perform multiple actions, such as token approvals and swaps, in a single click.

Furthermore, MetaMask will transition from Externally Owned Accounts to smart-contract-based accounts, which is expected to enhance security and unlock advanced functionalities.

The new home screen will enable users to view their assets across multiple chains in one place. It will also introduce the capability to manage multiple Secret Recovery Phrases from a single interface.

Recently, MetaMask launched MetaMask Card in partnership with Mastercard. The card links self-custodial wallets with merchants worldwide.

Some users on X suggested that MetaMask has lost market share to competitors like Phantom and Rabby, which support Solana. Many of the top-performing tokens from the 2024 memecoin trend were traded on Solana.

BTCUSD May Face Resistance at Key Level

The H1 chart of BTCUSD shows a prolonged downtrend. A bearish trend line is visible, and the 83350 level could act as a resistance point. This suggests that the price may encounter a confluence resistance level.

A bearish pattern at this confluence level could trigger further downward momentum. Conversely, a bullish breakout at this level may shift the intraday outlook.

At this stage, the BTC price is testing the lower boundary of the trend line. A breakout to the downside could continue the H1 chart's bearish trend. However, a breakout to the upside at this confluence level is likely to stall the current bear trend.

The Zoom H1 chart shows that BTCUSD has been bearish in the last five hours. After a period of decline, the price is now heading north.

Over the last five hours, the price has been trading in a lower pattern. This pattern is being formed as the bears have been pushing the price lower, and the bulls are unable to gain any momentum.

However, the price is now showing signs of recovery. It has bounced off of the 82000 support level and is currently trading at 83000. The Stochastic indicator is also showing signs of a bullish crossover in the oversold territory.

This suggests that the bulls may finally be starting to gain some momentum. If the bulls can manage to push the price above the 83350 confluence resistance level, then it could set the H1 chart up for a bullish trend reversal.

The Zoom H1 chart also shows that the BTC price is approaching a key confluence resistance level. This level is formed by the 83350 horizontal support, the lower trend line of the descending channel, and the 50% Fibonacci retracement level from the last wave.

A bearish pattern at this confluence resistance level could trigger further downward momentum in the short term. Conversely, a bullish breakout at this level may shift the intraday outlook and unlock potential for an uptrend.

At this stage, the price is testing the lower boundary of the trend line and is approaching the confluence resistance level. The Stochastic indicator is currently in the oversold territory.

A breakout to the downside at this stage could continue the H1 chart’s bear trend. However, a breakout to the upside at this confluence level is likely to stall the current bear trend and shift the intraday outlook. This shift could set the H1 chart up for a bullish trend.

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