Coinbase App Downloads Have Dropped, but Interest in Cryptos Isn’t Waning

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Coinbase App Downloads Have Dropped, but Interest in Cryptos Isn’t Waning

Post by howlermunkey » Tue Jul 10, 2018 7:12 pm

Due in part to the recent bear market for cryptocurrencies, digital currency exchange Coinbase has seen a drop in the number of downloads of its app, reaching levels that are comparable to April 2017. The drop could reflect fleeting interest from retail traders, but doesn’t mean that institutional investors aren’t still buying in.

Coinbase’s App
Amidst the all-time highs of digital currencies registered at the end of last year, Coinbase soared to the top spot for U.S. finance apps in terms of downloads.

Since then coins like Bitcoin have lost more than half their value, and perhaps in response Coinbase’s app has fallen to the 40th position in the June app download rankings, as per a report from Quartz.

What’s worth remembering is that the app isn’t the only way customers access Coinbase, as customers can also use its website. Also, the frequency of app downloads is not a clear-cut way to gauge consumer interest, because larger investors that trade more frequently and at higher levels only need one account to do so.

San Francisco-based Coinbase has also been developing services that are less linked to trading volumes, like Coinbase Asset Management and Coinbase Custody, which is used to securely store digital assets for hedge funds and family offices.


https://www.newsbtc.com/2018/07/10/coin ... nt-waning/

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