Crypto Exchange Coinbase Saw a Massive Drop in Downloads This Year

Ariel Ariel
Jun. 2

This is a single insight from This Week in Apps - May's Revenue Rejuvenation. Check out the full article for more insights.

2023 has not been the best year for cryptocurrencies...

Coinbase, which became a household name during the pandemic, is a good proxy for how the masses fell in and out of love with this new type of money most still don't understand.

And in 2023, there's been a lot of falling out of love with the platform.

Coinbase made its way into 2.2M iPhone and Android devices in January of 2022, according to our App Intelligence. That wasn't the peak of downloads for the crypto exchange, but I didn't want to go back too far.

That was also when Bitcoin, the most popular crypto currency mere mortals know about, was near its peak.

Bitcoin's value, like Coinbase's downloads, started declining very early in 2022.

By mid July Bitcoin was worth less than half and Coinbase's downloads were at about a quarter, 607K for the month of July.

The trend continued and by May of 2023 Coinbase saw just 379K downloads from the App Store and Google Play, according to our App Intelligence. That's an 82% cut when compared to January.

Bitcoin's value continues to fluctuate but is still far from where it was in 2022. Coinbase's bet on mere mortals trading something they don't understand was a good one when the going was good. And it might be good again, but for now it really doesn't look like it.

I'm no crypto expert, but I think the masses aren't ready for crypto yet.

App Intelligence for Everyone!

The insights in this report come right out of our App Intelligence platform, which offers access to download and revenue estimates, installed SDKs, and more! Learn more about the tools or schedule a demo with our team to get started.

Are you a Journalist? You can get access to our app and market intelligence for free through the Appfigures for Journalists program. Contact us for more details.

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.

Tagged: #finance #crypto

Related Resources

The NFL is Now On YouTube TV
The NFL is Now On YouTube TV

The NFL season kicked off a few weeks ago, and with it, something new - YouTube has taken over the streaming rights to t...

Downloads Are Down 99.8% Since Peak for This App, And It's Not Threads!
Downloads Are Down 99.8% Since Peak for This App, And It's Not Threads!

A lot of attention has been given to Threads, Meta's Twitter (aka X) clone that came and went in a social media spectacl...