Coinbase Leads as Crypto Apps Climb Charts Following Bitcoin’s Surge
Bitcoin's Spike to a New All-Time High Price Has Caused Mobile Crypto Apps on iOS and Android to Rank Higher as Retail Investors Flock To The Platforms
Coinbase, one of the largest crypto exchanges, has surged to the top of Apple’s App Store rankings amid Bitcoin’s record-breaking rally. It beat popular rivals like Gmail, Google Maps, and Facebook and solidified its role as a leader in the crypto-finance sector.
The cryptocurrency market is still abuzz with excitement, and mobile crypto app users are flooding into the sector on the renewed hype in the market.
Bitcoin’s Rise Fuels Coinbase Boom
The surge in Bitcoin’s price, which recently reached an ATH of over $93,000, has created a domino effect across the crypto ecosystem.
Numerous retail investors eager to capitalize on the volatile crypto market have swarmed to platforms like Coinbase. As a result, it quickly jumped from 26th place to 1st in the Free Finance category on the Apple App Store as news of Trump’s election victory began spreading.
Historically, rising crypto prices have driven increased popularity for major exchanges and their apps, which appeal more to mainstream retail buyers than the decentralized platforms favored by crypto experts. Coinbase was no exception, with its surge in popularity coinciding with unprecedented trading volumes, surpassing $12 billion on November 12—the highest recorded this year, according to CoinGecko.
The app’s mobile-first approach and accessible advanced trading capabilities, especially to newcomers, continue to solidify its dominance in the crypto space and further expand its user base.
Other Mobile Crypto Apps Also See Unprecedented Growth
Coinbase’s success is part of a larger movement that has seen several crypto-based apps climb the rankings.
Robinhood and Crypto.com have also entered the top 10 in Apple’s Finance category. Meanwhile, platforms like Moonshot, a meme coin trading app, have seen explosive growth, jumping 388 spots to rank 84th.
Moonshot’s user-friendly approach, allowing deposits via Venmo or debit card, has attracted over 90,000 downloads since its launch in July.
The Bigger Picture in The Crypto Market
The success of Coinbase and other crypto apps shows a broader acceptance and trust of cryptocurrencies as an investment vehicle.
The ease of mobile trading encourages retail investors to enter the market, driving increased involvement. This shift is not limited to popular assets like Bitcoin and Ethereum, as meme coins and other altcoins are also attracting significant interest.
