While the crypto market is way on the rise, crypto applications are not seeing the same numbers, reports CoinTelegraph.
Speculative interest is high
This news comes to us originally through Bloomberg. The publication found out via App Annie, a mobile application that analyzes statistics on mobile app downloads. According to the stats, there were around 65.8 million downloads related to crypto applications in the first half of last year. For the same period this year, that number is now 67 million.
Interestingly, this is one of the smallest gains we’ve seen year-over-year, with 2016 to 2017 being a 45% rise.
The application categorizes crypto applications by words in their description. Words like Bitcoin, cryptocurrency, blockchain, and more. That and they’re usually in the Finance section of the Google Play or App Store. Generally, these downloads are cryptocurrency exchanges.
Moreover, there are more applications than ever before, with apps in this category up 35% from January of last year. Also, searches for the word Bitcoin are 73% lower than December 2017, the peak of that statistic.
Enthusiasts over the rest
These numbers point to a crypto rally that’s still surrounding enthusiasts. While the interest in Bitcoin is incredibly high, there are still many, many people who are speculative and not getting involved. That and it’s important to note that all of the price changes could be done by a minority, the whales, who hold most of the Bitcoin in circulation.
Of course, there’s still hope to be had. For now, mainstream publications like Bloomberg claim that Bitcoin and cryptocurrencies, in general, are here for good. Additionally, the International Monetary Fund believes that cryptocurrencies backed by central banks across the world are bound to be positive for digital assets.
Then we have Facebook’s Libra project, which is bound to generate actionable interest when it launches next year. Since the start of Bitcoin in 2008, the industry is on the move up. It will continue to be that way until there’s nowhere else to go.