Coinbase Hits 2024 Downloads Peak as Bitcoin's Value Explodes
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It's been a wild couple of weeks for Bitcoin, which saw its price rise to more than $90K! Just when you thought people moved on from crypto and interest in the currency not many understand faded.
I knew Bitcoin became cool again when I got a call from my mom asking me if it was time she got into crypto. How's everyone (and some mothers) getting into crypto? Coinbase.
According to our estimates, crypto marketplace Coinbase saw its best day of downloads since early 2022!
Earlier this year, Coinbase was averaging 23K downloads per day from the App Store and Google Play, according to our App Intelligence.
Downloads dropped by nearly half over the summer as the elections were leaning away from Trump, who promised to make the US "crypto capital of the planet". But came back strong after Trump was elected.
Downloads jumped back to their daily average on election day and doubled the next day. The rise didn't stop there. Just as Bitcoin's price continued to surge so did Coinbase's downloads, peaking at 114K last Wednesday, according to our estimates. The most downloads the app has seen in a single day since early 2022 - more than two years ago!
Will this become Coinbase's new normal? It's too early to tell, but if Bitcoin remains as strong, it just might be.
P.S. - I told my mom it's definitely not the time for her to get into crypto.
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All figures included in this report are estimated. Unless specified otherwise, estimated revenue is always net, meaning it's the amount the developer earned after Apple and Google took their fee.
