Threads, Instagram’s Twitter competitor, is reportedly losing steam, with a 70 percent drop from its peak in early July.

Despite Meta Founder and CEO Mark Zuckerberg’s claim that “tens of millions of people come back daily” on Threads, the number of daily active users on Threads fell for the second week to 13 million, a 70 percent drop from a July 7 high point.

In comparison, Twitter has around 200 million daily active users.

“User engagement on Threads has continued to fall after an initial surge in sign-ups, putting pressure on parent Meta Platforms,” according to the report, which cited Sensor Tower data.

According to data, user engagement has dropped by 70 percent as “executives focus on options such as a chronological feed,” it added.

However, Meta executives have stated that they do not consider the drop to be concerning and that they are working on new features, IANS reported.

Threads is still in its early stages and requires several Twitter-like features to compete in the social media space.

According to previous reports, the so-called Twitter killer’s daily usage has plummeted, with users now spending 50 percent less time on the app, from 20 minutes to just 10 minutes.

Despite a drop in usage, Threads reached 150 million user sign-ups last week.

Threads was released on July 5 for iOS and Android users in 100 countries, and it is currently one of the top free apps on the App Store.

Within seven days of its launch, the app had more than 150 million downloads worldwide, according to Data.ai.

According to recent information, Threads has gained the most user presence in specific markets, with India leading the way, accounting for approximately 32 percent of its downloads.

Following India is Brazil, which accounts for approximately 22 percent of Threads installations, and the United States, which accounts for nearly 16 percent of the total.