Blockchain wallet, the crypto wallet has announced recently that they are having as much as up to 50,000 users a day in spite of the recent crypto market downturn.
As per the twitter handle of Peter Smith, Blockchain CEO and Cofounder which made a claim and taking a slight dig at Coinbase too.
Against The Tide
As in a recent interview with Bloomberg, Brian Armstrong, Coinbase CEO stated that they had a staggering 50,000 new users up for registration per day, last year at the peak of cryptocurrency rally. In the tweet made Smith, he says that the count of people signing up on Blockchain is in the same tally as the Coinbase and their service is enabling the users to use and engage with cryptos on the platform.
The last statement seems to take a slight dig at coinbase’s attempt at luring people towards crypto as compared to blockchain’s practical purpose.
As Smith tried to indicate towards that the trading and heavy investment backed Coinbase’s approach may not be as helpful for crypto adaption and would be responsible for market downturn.
Future of Blockchain?
Blockchain wallet, with the self-ascribed title of “most trusted crypto company”, has been doing some self-promotion from time to time but the aggressive marketing seems to be working since they recently hit the milestone of 25 Million wallets.
The company offers its users the ability to send, receive, trade and store their cryptocurrency, turning it into one of Coinbase’s competitors. They have recently closed a $40 million Series B funding round successfully led by Google in 2017.
Blockchain’s business initiatives have been in both the retail crypto market and the investment market. Their recent project namely, Blockchain Principal Strategies being aimed at institutional investors.
The product would be offering institutional investors customized access to markets and research especially in the uprising interest from endowments, pension, hedge and mutual funds in the crypto industry.