The number of users accessing cryptocurrency apps has shrunk for a second straight week, a possible reflection of Bitcoin’s cratering value over the past few weeks. (Image: Korea Bizwire)
SEOUL, Feb. 7 (Korea Bizwire) — The number of users accessing cryptocurrency apps has shrunk for a second straight week, a possible reflection of Bitcoin’s cratering value over the past few weeks.
App market research firm Wiseapp said on February 6 that an analysis of 23,000 Android smartphone users’ habits over a 14-week period (from October 30 through February 4) revealed that 140,000 cryptocurrency app users measured in the first week (October 30 through November 5) exploded to a high of 2 million from January 15 through 21.
The number of users has trickled down since then, from 1.93 million between January 22 and 28, and 1.86 million by the first week of February (January 29 through February 4).
The number of users has trickled down since then, from 1.93 million between January 22 and 28, and 1.86 million by the first week of February (January 29 through February 4). (Image: Yonhap)
Total time spent on the apps and total number of times the apps were activated reached a peak in the first week of January when Bitcoin recorded its highest valuation.
In the first week of January, total time spent on cryptocurrency apps stood at 533 million minutes, and the apps were activated a total of 1.37 billion times. By the first week of February, these figures had tumbled down to 225 million minutes and 596 million activations.
Lina Jang (linajang@koreabizwire.com)
