With the bitcoin price swings in the waning year of 2018, the crypto market is still booming with more than 7.5 million users having installed bitcoin-related applications on their devices, according to a recent analysis.

The market insight analysis on the cryptocurrency application industry was recently released by Jiguang Data, a Nasdaq-listed company providing data services.

Statistics show that the penetration rate of bitcoin apps started to increase in November last year, while the growth momentum has slowed down significantly since this June. As of September, the penetration rate of bitcoin apps hit a high at 0.68% (number of active devices installed with bitcoin apps/number of active devices in the entire market), and the number of bitcoin-related app users has reached 7.51 million in China, up 230.84% from the same period last year.

Although the number of users has increased significantly in the past year, the number of downloads per user sees no increase. As of September, the number of crypto apps installed per user was 1.88, down slightly from 2.11 months earlier.

The past year saw the number of female users in an obvious increase. As of this September, 32.3% of these app users are female, up 8.7% from the same period last year; Male users make up 67.7% of the total. The gender disparity that the same exists in the crypto space seems to be narrowing in the country.

It is noteworthy that the proportion of users aged 25 and below has increased this September compared with the number of last year.

Concerning geographic distribution, users from fourth-tier cities take up the largest percentage, accounting for 27.3%.; users from third-tier cities, second-tier cities, new first-tier cities and first-tier cities account for 20.7%, 19.5%,19.8% and 12.7% respectively. It seems people in less developed regions tend to have higher bitcoin-related demand.

According to the report, mobile light wallet imToken, crypto exchange apps Huobi Pro and OKEx are the most popular crypto applications in the country, followed by some crypto media apps.