Digital assets like Bitcoin, non-fungible tokens (NFTs), and metaverse have emerged as one of the most talked-about technological trends of 2021, and this has been reflected by a more than 400% increase in crypto app downloads in the same year.
Crypto applications had enormous user growth in 2021, compared to 2020 with installations up 400% and sessions up 567% over the previous year, according to a recent joint report published by mobile marketing analytics platform Adjust and app intelligence provider Apptopia.
As per Apptopia statistics, the world’s largest crypto exchange Binance was the most downloaded cryptocurrency app in 2021, moving up from its previous position of third most in 2020. In 2021, over 20% of Binance’s downloads came from Turkey, while approximately 9.3% coming from the United States.
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Crypto.com was the second most downloaded app, while Coinbase, which had previously been the most downloaded crypto app in 2020, fell to third place. Trust and MetaMask were the fourth and fifth in terms of downloads, respectively.
The report also reveals that worldwide crypto app growth soared by 902% year on year in the fourth quarter of 2021, with standout markets by growth rates being the U.S. (645%), APAC (475%), EMEA (284%) and LATAM (182%).
Why is there such a spike in crypto app downloads?
Notably, a number of celebrities and corporate leaders have openly promoted crypto assets, including Elon Musk. Memecoins like Dogecoin (DOGE) and Shiba Inu Coin have gained massive popularity, as well as NFTs and the broader concept of Web3 have all in turn helped crypto apps dominate mobile marketing.
The role of advertisements for crypto cannot be understated as well crypto app downloads spiked 280% following advertisements at this year’s Super Bowl. Not to mention Crypto.com is embarked on a $100 million global advertising campaign with Hollywood actor Matt Damon to capitalize on the crypto bull market at the time.
Vice President of Insights at Apptopia, Adam Blacker stated:
“Our data shows a massive increase in demand for crypto wallets and exchanges over the past year. We expect to continue to see crypto apps rise in parallel with digital currency.”
Finally, it’s worth mentioning that when it comes to user engagement, cryptocurrency applications outperform out stock trading apps.
In terms of user engagement measures such as session durations, sessions per user per day, retention rates, and stickiness, crypto apps surpassed their counterparts.
