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Bitcoin price has tripled But downloading crypto apps didn’t he

Date:2024-07-29 18:58:30 Channel:Trade Read:


The four most famous international exchanges:

Binance INTL
OKX INTL
Gate.io INTL
Huobi INTL
Binance International Line OKX International Line Gate.io International Line Huobi International Line
China Line APP DL China Line APP DL
China Line APP DL
China Line APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.


According to Bloomberg, the price of Bitcoin has more than tripled since the beginning of the year, but there has been little growth in cryptocurrency-related apps and consumer interest has been lackluster. App tracker App Annie surveyed apps in the Apple App Store and Google Play. As of June 26, more than 6,500 apps in the finance category included the words cryptocurrency, blockchain or Bitcoin in their descriptions. The survey results show that the number of downloads of cryptocurrency-related apps is not significantly higher than the number of downloads in the first half of 2018, when the cryptocurrency market began to decline and the bear market began. In the first half of 2019, people downloaded 67 million crypto apps, compared with 65.8 million in the same period last year, an increase of only 2%. However, the total number of crypto apps this year has increased by 35% compared with January 2018, which also means that new apps have not brought a boom to the crypto app market. Although the current round of Bitcoin's rise has not driven the development of crypto apps, there was a strong correlation between the two in the previous bull market. According to App
Annie's report last year: "Throughout 2017, cryptocurrencies dominated the headlines and sparked interest. As a result, cryptocurrency applications have significantly increased in the face of growing market interest."

Relationship between crypto applications and prices in 2017

In addition to the lack of improvement in crypto applications, Bloomberg also pointed out that the current search volume for "Bitcoin" in Google is five times lower than in December 2017.

However, there are also some indicators that Bitcoin prices are moving towards bull market levels.

According to HOLD market data, although there is still a certain distance compared to the highest price of $19,875 in the 2017 bull market, BTC's daily trading volume and the total daily trading volume of the entire cryptocurrency market have broken through the previous highs and set a new high again.

In addition, as BTC prices rise, computing power and difficulty also rise. BTC.com data shows that the current Bitcoin network computing power is 61.13 EH/s. The current network difficulty is 8.73 T, a record high.

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