Bitcoin has been on a tear since the beginning of the year, but its impressive 220% rise has not helped apps tied to the market, according to a Bloomberg News report.
Data from App Annie shows that downloads in cryptocurrency-related apps has flattened from 2018 to 2019, despite bitcoin’s price surge from $4,000 at the beginning of the year to over $10,000.
According to the app analytics provider, downloads of the more than 6,500 apps related to cryptocurrency only picked up a few million from 65.8 million during the first half of 2018 compared to 67 million during the first half of 2019.
Still, the number of crypto apps has increase 35% from 2018.
The lack of interest in crypto apps further illustrates the difference between the 2019 bull market in crypto-assets relative to the one at the end of 2017.
As pointed out by The Block Director of Research Larry Cermak, there has been virtually zero spike in Google searches for the largest cryptocurrency exchanges, including Binance, Coinbase, and Bitfinex.