The United Arab Emirates is advancing toward becoming a primary market for cryptocurrency companies looking to rapidly expand their user base.

In 2024, the country recorded a 41% year-on-year increase in the installation of applications used for trading and managing cryptocurrency assets.

In total, the UAE saw 15 million downloads of cryptocurrency applications last year, with December alone hitting a record 2.8 million installations on smartphones.

This data comes from an analysis conducted by the analysis and marketing platform 'Appsflyer'.

The report indicates that the top 49 cryptocurrency applications in the UAE experienced 6.2 million downloads in 2023, and the installations increased by 41% in 2024 compared to the previous year.

Most downloads in 2024 occurred in the second half of the year, surpassing one million monthly installations in the fourth quarter.

Further insights from the study reveal a continuation of this upward trend, with January 2025 witnessing 3.5 million downloads of these applications.

According to the study, this figure represents more than half of all downloads recorded in the country throughout 2023.

The study attributes this growth to several factors, including the potential re-election of former U.S. President Donald Trump.

His victory is perceived broadly as a win for cryptocurrency advocates, with Trump having pledged to end the crackdown on cryptocurrencies and to position the United States as the world's cryptocurrency capital if re-elected.

Shani Rosenfelder, market analytics director at Appsflyer, noted that Trump’s reaffirmation of his pro-cryptocurrency stance has contributed significantly to the appeal of cryptocurrencies in the UAE.

Rosenfelder stated, 'There exists a strong correlation between this factor and the momentum of the cryptocurrency market in the UAE.

Moreover, positive expectations continue to represent an opportunity for cryptocurrency companies to rapidly grow their user bases during this market recovery period.'

Rosenfelder also highlighted that intensive marketing efforts accounted for 60% of the cryptocurrency app traffic in 2024, presenting challenges in user retention.

The team at Appsflyer found that one in every five applications in the Emirati market was uninstalled within 30 days of download on Android devices.

Rosenfelder emphasized the significant remaining potential, noting that expectations point towards 2025 being a record year, and advised cryptocurrency app marketers to employ every available tool in their arsenal to gain and maintain market share.