Bitcoin Ethereum Trezor cryptocurrencywallet FTX fallout sparks a wave of exchange withdrawals and crypto wallet downloads
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Unfortunately, the events of 2022, starting with the implosion of Terra/Luna and, more recently, the collapse of FTX, have reminded crypto holders, new and old, of the reason many got into cryptocurrencies in the first place – the ability to self-custody their assets. This is further supported by data provided by Finbold, which shows that between January and October 2022, an estimated 102.06 million crypto wallets were downloaded for Android and iOS devices. This figure was based on the top 21 digital currency storage apps.While this figure is lower than the 177.85 million downloads that occurred during the bull market of 2021, it is more than three times higher than any previous year.
Further evidence of the rush to self-custody cryptocurrencies was provided by Josef Tetek, a Bitcoin analyst for the cryptocurrency hardware provider Trezor.
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