Despite the downturn currently hitting the cryptocurrency market, Blockchain Wallet says that it’s adding 50,000 users per day.
Peter Smith, CEO and Co-founder of Blockchain.com, tweeted to correct the earlier reports that suggested Coinbase was registering 50,000 users per day. Smith continued to state that it’s “delightful” to see new users wanting to use cryptocurrencies.
“CORRECTION: It’s actually *Blockchain* signing up over 50,000 per day in the midst of this crypto downturn. It’s delightful to see new entrants actually interested in *using* crypto,” the Tweet read. Which you can see below.
CORRECTION: It's actually *Blockchain* signing up over 50,000 per day in the midst of this crypto downturn. It's delightful to see new entrants actually interested in *using* crypto. (Hi @crypto 👋 ) pic.twitter.com/NKFDKMdSRk
— Peter Smith (@OneMorePeter) 15 August 2018
Smith’s tweet may be seen as a light jab at Coinbase and Bloomberg, poking a bit of fun at their misreporting, and of course, jumping on an opportunity to push his label into the limelight.
Are Users in defiance of crypto downturn?
While the huge signup figure had many cryptocurrency supporters over the moon, a good number were critical that Smith might be over-hyping the number. Some argued that Blockchain doesn’t support fiat on-ramp, which makes such growth statistics not quite relevant. Though, are we underestimating just how many new traders there are?
Cryptocurrencies have see tough times over the last quarter with most coins plunging double digit percentages over the last week alone. Though, as most ‘pros’ believe we are still in a full-market correction, this is to be expected. The slide of the cryptocurrency market should scare away proponents, yet Smith’s claims suggest the opposite.
Blockchain’s bigger plans
Since closing a Series B funding of £31 million in 2017, led by Google (around $40 million), according to reports, Blockchain has become the ‘most trusted crypto company.’ Earlier in June the company announced that it had hit a crucial milestone, registering 25 millionth cryptocurrency wallet. A month later, reports surfaced that the company was launching a product – Blockchain Principal Strategies – designed for institutional investors.
We’ll be paying close attention to this wallet provider as they bring more technology to the table.