Blockchain announces that every day 50,000 new wallets despite the continuing downtrend of the crypto market. Peter Block Smith, the CEO and co-founder of Blockchain.com, who recently joined Twitter.

Blockchain records around 50,000 wallets every day

In an interview with Bloomberg, Coinbase CEO Brian Armstrong said that Coinbase had 50,000 new users every day during the last Bull Run in 2017. Smith tweeted that Blockchain currently handles this same number of users daily, and that the service helps users work virtually with and deal with crypto unlike other non-specific use cases.

He said via Twitter:

CORRECTION: Currently, Blockchain records 50,000 new signups daily in the middle of the crypto-down trend. It’s nice to see that new participants are actually interested in using crypto.

Observers are likely to interpret this statement as a blow to Coinbase because they seem to have helped people into crypto for speculative reasons, rather than for practical reasons, as opposed to Blockchain.

In other words, that means that Smith has hinted that the Coinbase model, which is based on trade and investors, does not necessarily contribute to the long-term adoption of crypto, and it may actually have contributed to the crash of the crypto industry.

As a self-proclaimed “Trusted Crypto Company”, the company certainly does not seem averse to occasionally taking part in a small self-promotion. Smith’s testimony, which is difficult to confirm, reflects the company’s aggressive growth view, which has recently reached the milestone of 25 million wallets.

Blockchain not only for private investors

The company offers its users the ability to send, receive, trade and store their cryptocurrency, firmly anchoring it in the Coinbase competitor market. So far, it seems to be more than just self-assertion after the company successfully completed over $ 40 million in 2017 with a Google-led Series B round of financing.

Listed among Virgin UK’s top ten most disruptive companies, the wallet provider has conquered both the retail crypto market and the investment market. The media reported in July that the company has brought a product called Principal Strategies for institutional investors to the crypto market.

The product offers institutions and family businesses tailor-made access to markets and research in the face of the growing interest of foundations, bonds, hedge and mutual funds in the crypto industry.

On the retail side, Blockchain has also been at the forefront of some of the most significant developments in crypto-transaction engineering such as the introduction of Segregated Witness (Segwit) and the groundbreaking transaction fee estimation program that allows users to allocate fees on Satoshis per byte.