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Rise of the robot crypto trader: AI crypto bot apps reach 3m Android users

An analysis of AI crypto bot app download trends on the Google Play Store by app growth solutions company, SplitMetrics, has found that the sector has reached an estimated 3 million users.
According to the study, which analysed data from the App Radar by SplitMetrics platform, the sector has grown by 109% with 135k Android apps downloaded in Q1 2024. In contrast, Q1 2023 saw only 65k downloads, suggesting a rise on the back of the recent advances made in AI technology. Compared to Q4 2023, the number of downloads has also increased by 56%.
2024 to date (4 June 2024) saw 230k downloads for AI crypto apps, and at the current rate of downloads, the sector is expected to surpass the previous year’s high of 322k.
2022 saw the AI crypto bot sector reach an estimated 710k Google Play downloads.
The top five apps in Q1 2024 were Pionex (36k), uTrading (30k), AI Crypto Trading Bot – Stoic (18k), 3Commas (15k) and Auto Trading – Capitalise.ai (13k).
In terms of lifetime downloads, the top five apps are Pionex (1m), BitUniverse (597k), BOTS (581k), AI Crypto Trading Bot – Stoic (188k) and Cryptohopper (165k).
The research follows a warning by the U.S. Commodity Futures Trading Commission (CFTC) to “be wary of the hype” as “AI has become another avenue for bad actors to defraud unsuspecting investors”.
Thomas Kriebernegg, General Manager, SplitMetrics Agency, said: “The crypto sector is experiencing a resurgence following a hard 2023. At the same time, AI is becoming a big player in all spheres of our personal and professional lives. It is not surprising then that these two sectors would combine to help crypto traders with real-time insights and automation.
“It is important, however, to be aware of the limitations of AI bots and not fall for promises of guaranteed returns when trading.
“Whether growth in this sector will continue is to be seen. However, considering that there is a strong interest in both crypto and AI, we are most likely to see more apps and functionality in this area.”
This follows a previous SplitMetrics study which has found that the cryptocurrency sector has bounced back following a challenging year in 2023. The European cryptocurrency sector has grown by 94% with 1.6 million crypto trading apps downloaded in Q1 2024. Outside of Europe, the top crypto apps have experienced a 41% increase in Android downloads in Q1 2024 when compared to the same period in 2023.