The United Arab Emirates saw an unprecedented surge in cryptocurrency app downloads in 2024, fueled by political shifts in the United States and aggressive promotional campaigns by major crypto firms.
Data from app analytics firm AppsFlyer showed that installations of the top 49 cryptocurrency apps rose from 6.2 million in 2023 to 15 million in 2024, a staggering 141% increase. The final quarter of the year was particularly active, with December alone accounting for 2.8 million downloads.
Trump’s Pro-Crypto Stance Sparks Market Optimism
Donald Trump’s victory in the U.S. presidential election on November 6, 2024, was widely perceived as a boon for the cryptocurrency industry. His campaign pledged to end regulatory crackdowns and promote the U.S. as a global leader in digital assets. Market sentiment soared following his win, leading to increased crypto adoption worldwide, particularly in the UAE.
In January 2024, Trump launched his own memecoin, further drawing attention to the sector. A survey conducted by NFT Evening indicated that this move attracted a wave of first-time crypto investors. Following the memecoin’s debut, major trading platforms such as Crypto.com, Moonshot, and Coinbase dominated the U.S. Apple App Store’s finance category.
However, the rush to invest did not yield positive results for all participants. Blockchain analytics firm Chainalysis reported that over 800,000 wallets suffered collective losses of nearly $2 billion after purchasing the token. Despite this, enthusiasm for crypto apps remained strong, particularly in the UAE, where downloads continued to climb throughout the year.
Aggressive Marketing Drives Adoption, but Retention Remains a Challenge
AppsFlyer’s market insights director, Shani Rosenfelder, attributed 60% of the increase in crypto app downloads to aggressive marketing strategies. Companies poured resources into advertising campaigns, leveraging social media, influencers, and direct promotions to acquire new users. The results were evident: monthly downloads exceeded one million in the last quarter of 2024, with a record-breaking 2.8 million in December alone.
Yet, retaining users proved to be a challenge. Data from AppsFlyer revealed that one in five crypto apps was uninstalled within a month on Android devices. Despite the short retention span, the momentum carried over into the new year. In January 2025 alone, crypto app downloads in the UAE reached 3.5 million—more than half of the total for all of 2023.
