Mobile cryptocurrency apps have experienced a dramatic rise in rankings on Apple’s App Store, fueled by the latest surge in Bitcoin and other digital assets.
The recent bullish momentum has also propelled the overall cryptocurrency market capitalization to an unprecedented $3 trillion, marking a significant milestone for the industry.
Coinbase leads the pack in finance App rankings
Coinbase has emerged as a standout performer, climbing from the 26th spot to the top position in the Free Finance category of the App Store. The surge aligns with a sharp increase in trading activity on the platform. Data from CoinGecko reveals that Coinbase hit a daily trading volume of $12 billion on November 12, the highest figure it has recorded this year.
Other crypto-related apps have also made notable gains. Platforms like Robinhood and Crypto.com have entered the Top 10 in the Finance category, reflecting heightened user activity. Historically, spikes in crypto prices tend to drive increased engagement on trading platforms, with retail traders relying on mobile apps for convenience.
Meme coin Apps experience explosive growth
In addition to established platforms, newer apps catering to niche markets have grown remarkably. Moonshot, a mobile app specializing in meme coin trading, jumped approximately 380 places to secure the 84th in App Store rankings. SensorTower data shows Moonshot has garnered over 90,000 downloads across the Apple App Store and Google Play Store since its launch in July.
Moonshot’s rapid growth is attributed to its user-friendly design, allowing users to bypass complex setups like seed phrases. It facilitates fiat deposits through debit cards and focuses on high-risk meme coin trading. According to DefiLlama, Moonshot recently hit a new daily revenue high of $130,000, further driving its popularity.
Competition intensifies in the Crypto App space
The ongoing market rally has intensified competition among crypto apps. While major platforms like Coinbase focus on mainstream tokens, apps such as Photon and BullX are gaining traction by offering access to a broader range of meme coins. Meanwhile, Tensor, a Solana-based marketplace, is preparing to release its social trading app, Vector. Fun, which is expected to add more variety to the space.
The rankings of these apps are often viewed as an indicator of market health, though opinions vary. Some believe the surge reflects the growing interest in crypto, while others argue that established apps already possess the user base needed to secure top positions. Crypto community members, like DeGods NFT creator Rohun Vora, have pointed out that the true test of success will be when multi-chain wallets like Phantom reach the top. As of Friday, Phantom ranked sixth in the Utilities category of the App Store.
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