{"id":258851,"date":"2022-09-21T04:30:28","date_gmt":"2022-09-20T23:00:28","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=258851"},"modified":"2022-09-30T15:00:17","modified_gmt":"2022-09-30T09:30:17","slug":"crypto-app-downloads-have-interesting-figure-to-surprise-traders","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/crypto-app-downloads-have-interesting-figure-to-surprise-traders\/","title":{"rendered":"Crypto app downloads have interesting figure to surprise traders"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Cryptocurrency trading and wallet app downloads have fallen by 55% year-over-year (YoY) through the third quarter due to sluggish market trends, says a recent Apptopia<\/span><a href=\"https:\/\/blog.apptopia.com\/cash-advance-and-budget-tracking-apps-are-growing-more-than\"> <span style=\"font-weight: 400;\">report<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The report surveyed market trends around fintech companies and concluded that the \u201cnegative sentiment has gone too far.<\/span><span style=\"font-weight: 400;\">\u201d Among the fintech segments worst hit by the economic crisis, the cryptocurrency industry leads the pack.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It was in the second quarter of the current year that the Terra stablecoin system collapsed, leading to the crash hitting the cryptocurrency market. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Since then, the crypto market has been plagued by a bear trend for the rest of the year. New app downloads, reflecting the number of new members, have fallen 55% YoY through Q3.<\/span><\/p>\n<figure id=\"attachment_258852\" aria-describedby=\"caption-attachment-258852\" style=\"width: 624px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/1.jpg\"><img decoding=\"async\" class=\"wp-image-258852 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/1.jpg\" alt=\"\" width=\"624\" height=\"277\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/1.jpg 624w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/1-300x133.jpg 300w\" sizes=\"(max-width: 624px) 100vw, 624px\" \/><\/a><figcaption id=\"caption-attachment-258852\" class=\"wp-caption-text\">Source: apptopia<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">On the other hand, cash advance and buy now, budget tracking, and pay later app downloads have grown 69%, 22.6%, and 22% YoY respectively during Q3. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The trend shows that a lot of people are relying on such apps because people are short of cash amidst a dwindling economy with rising inflation. \u201cPeople are looking to purchase items they do not currently have the cash flow for,\u201d the report stated.<\/span><\/p>\n<h3>Sharp contrast from last year\u2019s trend<\/h3>\n<p><span style=\"font-weight: 400;\">The current trend is in stark opposition to one witnessed last year. The first half of 2021 witnessed the biggest crypto bloom ever which saw a large number of users flocking towards it.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per a Finbold<\/span><a href=\"https:\/\/finbold.com\/crypto-apps-surpass-50-of-all-u-s-investment-apps-downloads-in-h1-2021\/\"> <span style=\"font-weight: 400;\">report<\/span><\/a><span style=\"font-weight: 400;\">, cryptocurrency apps represented 51% of the top 50 asset management app downloads in the United States during H1 2021. In 2019, the share of crypto apps was barely 19%.<\/span><\/p>\n<figure id=\"attachment_258854\" aria-describedby=\"caption-attachment-258854\" style=\"width: 623px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/2.jpg\"><img decoding=\"async\" class=\"wp-image-258854 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/2.jpg\" alt=\"\" width=\"623\" height=\"279\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/2.jpg 623w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2022\/09\/2-300x134.jpg 300w\" sizes=\"(max-width: 623px) 100vw, 623px\" \/><\/a><figcaption id=\"caption-attachment-258854\" class=\"wp-caption-text\">Source: Finbold<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">In fact, crypto app downloads surpassed stock trading apps for the first time in 2021.<\/span><span style=\"font-weight: 400;\"> Corporate institutions entering the crypto industry also resulted in the growth of the industry. Another reason was the coronavirus-induced lockdown.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">But as the crypto crash hit the market and many scams unfolded during Q2 2022, a steady fall in crypto app downloads was also witnessed.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As the market remains sluggish, we are yet to see how much people would be willing to invest in cryptocurrency. With government regulations growing stronger across the world, we also need to observe how people choose to engage with this asset segment in the future.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency trading and wallet app downloads have fallen by 55% year-over-year (YoY) through the third quarter due to sluggish market trends, says a recent Apptopia report.\u00a0\u00a0 The report surveyed market trends around fintech companies and concluded that the \u201cnegative sentiment has gone too far.\u201d Among the fintech segments worst hit by the economic crisis, the<a href=\"https:\/\/ambcrypto.com\/crypto-app-downloads-have-interesting-figure-to-surprise-traders\/\">Continue reading <span class=\"sr-only\">&#8220;Crypto app downloads have interesting figure to surprise traders&#8221;<\/span><\/a><\/p>\n","protected":false},"author":70,"featured_media":258860,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[66,3,4,20],"tags":[],"class_list":["post-258851","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - 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