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Crypto app downloads spike 280% following Super Bowl ads

Crypto app downloads spike 280% following Super Bowl ads
Jordan
Major
4 months ago
2 mins read

Companies seem to be reaping the benefits of their Super Bowl advertising in more ways than one: publicity and app downloads.

In the cryptocurrency space, one ad stood out amongst all others; crypto exchange Coinbase’s viral ad included a vividly colored bouncing QR code that was reminiscent of the iconic bouncing DVD logo. 

On Super Bowl Sunday, February 13, Coinbase downloads increased by 309% week over week after the ad’s showing and increased 286% the following day, according to data from app intelligence firm Sensor Tower.

However, Coinbase wasn’t the only crypto app that performed well; three of the top five applications that saw a substantial increase in downloads were crypto apps. The number of eToro app installs increased 132% week-over-week, while FTX saw downloads surge 130% across the same time period.

Crypto app growth. Source: SensorTower

Collectively, Coinbase, eToro, and FTX all witnessed a 279% increase in U.S. installations on February 13 when compared to the previous week; meanwhile, week-over-week downloads grew by 252% on the following day, continuing this trend.

Download rank gives indication of apps popularity

Before the ad during the Super Bowl, Coinbase was ranked 124, and its app subsequently crashed owing to a massive influx of traffic. However, by Monday, it had risen to the second most popular app in the United States App Store.

Using the data, Sensor Tower evaluated how well the Super Bowl advertising performed for the mobile-first companies who ran commercials during the big game. 

Due to non-disclosure agreements with customers, the business is unable to provide specific download counts; nonetheless, its data may give insight into the kind of effect these advertisements had. 

Coinbase to recruit more employees

Whatsmore, shortly after the commercial on February 15, Coinbase announced it intends to expand its operations by recruiting more employees in 2022 to keep up with the increased demand.

In order to properly capitalize on the prospects ahead, it revealed it would need more help in scaling up its existing products while concurrently developing new ones. 

At this time, the crypto trading platform aims to increase its workforce by up to 2,000 personnel in order to do this, citing “enormous product opportunities” in Web3.

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Jordan Major
Author

Jordan is an investor and market analyst. He's passionate about stocks, ETFs, blockchain, and digital assets. At Finbold.com, he delves into the technicalities to obtain future trends for new market traders and gives insights into user-friendly platforms for beginners.

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