As cryptocurrencies have continued to rise in popularity, the past few quarters have seen a spike in interest around related apps across the App Store and Google Play in European markets. To that point, Sensor Tower’s State of Crypto Apps in Europe report reveals that first-time installs of cryptocurrency apps in Europe reached nearly 100 million in 2021.
The top Crypto apps in Europe saw a boost in usage during 2021, marking a 300 million increase in monthly active users (MAU) year-over-year. In 2021, Binance, Coinbase, and Crypto.com were the top three Crypto apps by MAU, accounting for 45 percent of the top 30 Crypto apps’ MAU in Europe. Crypto apps saw their MAU increase by 81 percent Y/Y in March 2022.
According to our Pathmatics data, leading Crypto apps have implemented new marketing strategies in the United Kingdom and Germany with the term “NFT” appearing more frequently in their digital ads. In Q1 2022, the keyword “NFT” appeared 122 times across the creatives in our analysis as compared to just nine times in Q1 2021. The frequency of “metaverse” terms is also becoming more popular in the Crypto ad space, appearing 24 times in Q1 2022, up from zero mentions in Q1 2021.
In the U.K., Crypto.com was able to boost its growth with a digital ad push with the company investing more than $2 million on ads in 2021. Crypto.com also spent by far the most on digital ads in the U.K. compared with other advertisers in the space such as Bitstamp and Gemini.
We’ve seen first-time installs of Crypto apps in Europe rise more than 500 percent from 2020 and advertisers allocate their budgets toward more digital platforms in 2021. Furthermore, based on our analysis it seems unlikely the space will be slowing down anytime soon and we expect to see continued growth over the next few quarters.
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Written by: Marco Scacchi, Mobile Insights Analyst, EMEA
Date: May 2022