Posted By Gbaf News
Posted on April 26, 2018
- Data findings reveal Coinbase user habits, with app owners checking Coinbase up to 7.5 times a day during the volatile month of December 2017, before dropping to as low as 2.3 times a day in February, as the price stabilised
- Demand for the app surged in December in the UK, following the South Korean government’s announcement around a potential ban, by an average of 44% throughout the month
- Over one-in-five Coinbase users checked the app on Christmas Day, with each user checking on average three different times during the day
- Study also suggests that spikes of user engagement on Coinbase preceded Bitcoin price movements
- Data findings from leading mobile data company Ogury uses data from Active Insights, a newly-released app ecosystem intelligence solution.
Ogury, the leading mobile data company, today announces findings indicating a direct, predictive relationship between crypto exchange Coinbase’s active users and the price of the cryptocurrency.
Bitcoin’s price reached an all-time high at $20,000 in December last year, followed by a recent price plunge in early February, sparking speculations around the factors determining the cryptocurrency’s price fluctuation.
The data findings for the UK market demonstrate the dominance of Coinbase, while indicating potential unusual drivers of bitcoin’s price.
The results are based on insights from Coinbase app users on Android devices, between November 2017 – February 2018, pulled from Active Insights, Ogury’s newly-released app ecosystem intelligence solution.
- On December 12th, Coinbase saw a spike in active users, rising 10% in just 2 days to reach total of almost 40%. Following this activity, the price of Bitcoin then climbed to $17,178 in the hours following the spike
- On February 5th, Coinbase saw a steep decline down to almost 15% in active users; bitcoin’s price dropped down to $6,914
- On December 12th, the most volatile month for bitcoin pricing, users of Coinbase checked the app on up to 7.5 times, before dropping to as low as 2.3 on February 5th
- Over one-in-five Coinbase users checked the app on Christmas Day, with each user checking on average three different times during the day
With 197 billion total mobile app downloads taking place in 2017, app insights are a valuable source of intel that can lead to rewarding knowledge of a given market. Daniel Warner, Head of Supply UK at Ogury, commented:
“Today’s findings are a true testament to the power of data in today’s economy. While there are many different factors that can drive the price of cryptocurrencies, analysis of app usership for trading platforms can lead to specific behavioural patterns and insightful conclusions.
We’ve built Active Insights with this in mind – to empower app publishers by providing, for the first time, detailed insights on user behaviour. The ability to then action those insights means publishers can supercharge their strategies to engage and retain users. The end result is a far superior experience for users, and an increased efficiency for publishers.”
Active Insights is powered by Ogury’s unique first-party data, leveraging real user behaviour to provide true ownership and engagement metrics far beyond what is possible with existing app store metrics or in-app analytics tools. The platform is already used by the UK’s leading digital publishers, such as Perform Media, with its suite of market leading sports apps including DAZN and Goal.
