Bitcoin's recent surge has pushed Coinbase to ninth place in the global app rankings, followed by Robinhood at 13th.
This surge in popularity marks a resurgence of retail interest, as Coinbase was ranked 435th the night before the US election.
Coinbase climbs to ninth place globally on the App Store
Coinbase’s rapid rise reflects retail investors returning to the crypto market, eager to participate in Bitcoin’s rally. With the asset’s price on the rise, users are downloading trading apps in large numbers to participate.
Robinhood, another major trading platform, is also on an uptrend, now ranked 13th on the U.S. App Store, while CashApp is a bit behind at number 30. This simultaneous growth for Coinbase and Robinhood shows a renewed demand for easy-to-use crypto trading platforms.
In March 2024, Coinbase briefly re-emerged in the top 100 apps. It was the first time this had happened since two years earlier, marking the beginning of this renewed interest.
Now, its position in the top 10 confirms a new wave of retail adoption, likely driven by Bitcoin’s recent performance. As retail investors respond to these market shifts, the crypto space appears to be gaining new momentum.
When Bitcoin and other cryptocurrencies surge, retail investors flock to trading platforms, driving a surge in app downloads. Robinhood’s No. 20 ranking also suggests that traditional trading apps that cater to retail crypto demand have much to gain.
Known primarily for stock trading, Robinhood is now attracting users looking to invest in both stocks and crypto in a single app. Robinhood’s rise indicates that retail investors want easy and streamlined access to crypto, especially during price rallies.
Bitcoin sentiment check: Coinbase app rating on Apple App Store, 7-day moving average = 191. Possibly just 1-2 weeks away from hitting extreme levels, based on current pace. *The app reached No. 1 in December 2017, April 2021 and November 2021, an analyst at X said on November 11.
Read more: Coinbase – discover one of the largest exchanges in the world
Bitcoin is an alta apostate polymarket
Polymarket punters have been quick to weigh in on the matter. At the time of writing, users estimate a 58% chance that Coinbase will remain in the top 10 free apps this Friday (November 15).
Coinbase Betting (November 12-14). Source: Polymarket.
In the crypto industry, app rankings often signal market enthusiasm and can indicate the approach of a bull market. This trend also highlights how retail adoption shapes the market for crypto apps.
As platforms like Coinbase climb the app rankings, they reveal, for example, the crypto market's vitality and response to price gains. If this pattern persists, more crypto apps could gain popularity, attracting even more retail investors.
The article Bitcoin Rally Boosts Coinbase, Robinhood in Global App Store Rankings appeared first on BeInCrypto Brasil.
