diff --git a/p2p/metrics.go b/p2p/metrics.go
index 9e80ab1ae8..c1b28e9bf1 100644
--- a/p2p/metrics.go
+++ b/p2p/metrics.go
@@ -159,17 +159,19 @@ func (c *meteredConn) Write(b []byte) (n int, err error) {
 // handshakeDone is called when a peer handshake is done. Registers the peer to
 // the ingress and the egress traffic registries using the peer's IP and node ID,
 // also emits connect event.
-func (c *meteredConn) handshakeDone(id enode.ID) {
+func (c *meteredConn) handshakeDone(nodeID enode.ID) {
+	id := nodeID.String()
 	if atomic.AddInt32(&meteredPeerCount, 1) >= MeteredPeerLimit {
+		// Don't register the peer in the traffic registries.
 		atomic.AddInt32(&meteredPeerCount, -1)
 		c.lock.Lock()
-		c.id, c.trafficMetered = id.String(), false
+		c.id, c.trafficMetered = id, false
 		c.lock.Unlock()
 		log.Warn("Metered peer count reached the limit")
 	} else {
 		key := fmt.Sprintf("%s/%s", c.ip, id)
 		c.lock.Lock()
-		c.id, c.trafficMetered = id.String(), true
+		c.id, c.trafficMetered = id, true
 		c.ingressMeter = metrics.NewRegisteredMeter(key, PeerIngressRegistry)
 		c.egressMeter = metrics.NewRegisteredMeter(key, PeerEgressRegistry)
 		c.lock.Unlock()
@@ -177,7 +179,7 @@ func (c *meteredConn) handshakeDone(id enode.ID) {
 	meteredPeerFeed.Send(MeteredPeerEvent{
 		Type:    PeerConnected,
 		IP:      c.ip,
-		ID:      id.String(),
+		ID:      id,
 		Elapsed: time.Since(c.connected),
 	})
 }
@@ -188,7 +190,7 @@ func (c *meteredConn) Close() error {
 	err := c.Conn.Close()
 	c.lock.RLock()
 	if c.id == "" {
-		// If the peer disconnects before the handshake
+		// If the peer disconnects before the handshake.
 		c.lock.RUnlock()
 		meteredPeerFeed.Send(MeteredPeerEvent{
 			Type:    PeerHandshakeFailed,
@@ -197,10 +199,9 @@ func (c *meteredConn) Close() error {
 		})
 		return err
 	}
-	// Decrement the metered peer count
-	atomic.AddInt32(&meteredPeerCount, -1)
 	id := c.id
 	if !c.trafficMetered {
+		// If the peer isn't registered in the traffic registries.
 		c.lock.RUnlock()
 		meteredPeerFeed.Send(MeteredPeerEvent{
 			Type: PeerDisconnected,
@@ -212,6 +213,9 @@ func (c *meteredConn) Close() error {
 	ingress, egress := uint64(c.ingressMeter.Count()), uint64(c.egressMeter.Count())
 	c.lock.RUnlock()
 
+	// Decrement the metered peer count
+	atomic.AddInt32(&meteredPeerCount, -1)
+
 	// Unregister the peer from the traffic registries
 	key := fmt.Sprintf("%s/%s", c.ip, id)
 	PeerIngressRegistry.Unregister(key)