Cryptocurrency wallet downloads have declined, despite the resurgence of the cryptocurrency market.
In September 2023, crypto wallet downloads reached a three-year low.
In
a year marked by the resurgence of cryptocurrencies, the global interest in
cryptocurrency storage applications has experienced a notable decline. Recent
data reveals that cryptocurrency wallets witnessed a total of 73.6 million
downloads in the first nine months of this year, reflecting a decrease of 32% compared to the same period last year.
Declining
Interest in Crypto Wallets
This
drop in downloads marks the second consecutive year of declining interest in
crypto wallets. The number of cryptocurrency wallet downloads has now fallen
significantly below the peak levels observed during the crypto market's boom in
2021. The immense growth of the cryptocurrency market, coupled with Bitcoin's
price rally throughout 2021, led to a surge in cryptocurrency wallet users.
According
to data from Statista, AppMagic, and CryptoSlate, global users downloaded
nearly 186 million cryptocurrency wallets in 2021, setting a new record high in
the market's history. This number is even more astonishing when compared to the
figures from a few years prior.
The
statistics show that the total number of downloads in 2021 was 4.5 times higher
than in 2020 when there were approximately 40 million downloads. It was also
ten times higher than in 2019, when the number of downloads stood at 17.5
million.
However,
following this historic high in 2021, the trend took a downturn. Between
January and December 2022, the monthly downloads more than halved, plummeting
from 16.8 million to 7.8 million. This caused the annual download figure to
decrease 26% year-on-year, totaling 137.5 million downloads.
73.6 Million Crypto Wallet
Downloads in 2023: A Significant Decrease
The
decline continued into 2023, with people worldwide downloading 73.6 million
cryptocurrency wallet apps in the first nine months. It included prominent
platforms like Coinbase,
Blockchain.com,
Metamask, Trust, and Binance, among others. This number was substantially lower
than the 109.7 million downloads reported in the same period in the previous year.
Furthermore,
the monthly download figures exhibit a sharp decline in the popularity of
crypto wallets. After hovering around nine million between January and May this
year, the total number of downloads dipped to approximately seven million in
June and July.
However,
the decline reached a critical point in September, with statistics revealing a
mere 5.8 million crypto wallet downloads during that month, marking the lowest
number in the past three years.
Despite
this downward trend, it's worth noting that the overall number of
cryptocurrency wallet
downloaded remains substantial. Statistics indicate that since January 2015,
people worldwide have downloaded more than 490 million applications that
facilitate cryptocurrency
storage.
In
a year marked by the resurgence of cryptocurrencies, the global interest in
cryptocurrency storage applications has experienced a notable decline. Recent
data reveals that cryptocurrency wallets witnessed a total of 73.6 million
downloads in the first nine months of this year, reflecting a decrease of 32% compared to the same period last year.
Declining
Interest in Crypto Wallets
This
drop in downloads marks the second consecutive year of declining interest in
crypto wallets. The number of cryptocurrency wallet downloads has now fallen
significantly below the peak levels observed during the crypto market's boom in
2021. The immense growth of the cryptocurrency market, coupled with Bitcoin's
price rally throughout 2021, led to a surge in cryptocurrency wallet users.
According
to data from Statista, AppMagic, and CryptoSlate, global users downloaded
nearly 186 million cryptocurrency wallets in 2021, setting a new record high in
the market's history. This number is even more astonishing when compared to the
figures from a few years prior.
The
statistics show that the total number of downloads in 2021 was 4.5 times higher
than in 2020 when there were approximately 40 million downloads. It was also
ten times higher than in 2019, when the number of downloads stood at 17.5
million.
However,
following this historic high in 2021, the trend took a downturn. Between
January and December 2022, the monthly downloads more than halved, plummeting
from 16.8 million to 7.8 million. This caused the annual download figure to
decrease 26% year-on-year, totaling 137.5 million downloads.
73.6 Million Crypto Wallet
Downloads in 2023: A Significant Decrease
The
decline continued into 2023, with people worldwide downloading 73.6 million
cryptocurrency wallet apps in the first nine months. It included prominent
platforms like Coinbase,
Blockchain.com,
Metamask, Trust, and Binance, among others. This number was substantially lower
than the 109.7 million downloads reported in the same period in the previous year.
Furthermore,
the monthly download figures exhibit a sharp decline in the popularity of
crypto wallets. After hovering around nine million between January and May this
year, the total number of downloads dipped to approximately seven million in
June and July.
However,
the decline reached a critical point in September, with statistics revealing a
mere 5.8 million crypto wallet downloads during that month, marking the lowest
number in the past three years.
Despite
this downward trend, it's worth noting that the overall number of
cryptocurrency wallet
downloaded remains substantial. Statistics indicate that since January 2015,
people worldwide have downloaded more than 490 million applications that
facilitate cryptocurrency
storage.
Binance Introduces Spot Copy Trading to Enhance Offerings
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
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See you there!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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20-22 MAY 2024
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Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa