The Coinbase cryptocurrency exchange mobile app has become the most popular app in the Apple App Store in the United States.
According to SensorTower data, Coinbase’s app is the top ranked free app in Apple’s store, ahead of even popular social apps such as TikTok, Instagram and YouTube. Data also indicates that the stock market app is currently the second most popular in Google’s Play Store.
SensorTower collects data from over 10 million app users worldwide to provide an estimate of the top ten most popular mobile apps based on user engagement, number of downloads, revenue volume , among other parameters.
Coinbase is the number 1 app on Apple and number 2 on Google
Launched in June 2014, the Coinbase app for iOS devices has seen nearly 1.5 million downloads to date, with a recent surge in popularity. According to the data, the app ranked well below the top 10 iPhone apps at the start of the month. Coinbase went from the 190th most popular app to the most popular in the last three weeks.
Fred Ehrsam, co-founder of Coinbase with Brian Armstrong (the company’s current CEO), took to Twitter to show off what the app looked like in its early days. “How it started… How it’s happening,” Ehrsam recalled in a tweet accompanied by a comparative image.
The stock market’s iOS app ranked third in popularity as of early August. Meanwhile, the data also suggests that Coinbase has climbed the Android app rankings. The app fell from 190th place at the start of the month to third place, after remaining in Google’s top 30 apps in recent weeks.
Data suggests that Coinbase has gained more attention from Android users. According to data from SensorTower, the crypto trading app for iOS has seen a total of 700,000 downloads on the App Store, while on the Play Store for Android devices it has seen 900,000 downloads in the last month.
America’s largest stock exchange isn’t the only digital currency mobile app that’s among the most popular. The app from Crypto.com, another well-known cryptocurrency exchange, also ranks in the top 10 in the App Store, according to SensorTower. Meanwhile, on the Google Store, Square’s Cash App ranks #5 and Crypto.com #7.
Is it because of Shiba Inu ?
While it’s difficult to attribute the growing popularity of the Coinbase app to any single reason, the latest surge to the top spot in the App Store rankings coincides with the recent surge in the price of meme cryptocurrency Shiba Inu (SHIB).
SHIB trading volume soared this week, as the token hit a new all-time high. Data from CoinMarketCap on Wednesday showed that Shiba Inu subsequently became the most traded cryptocurrency on Coinbase. These numbers also coincide with Coinbase’s app, which recently rebranded to include SHIB.
Shiba Inu began trading on the Coinbase platform in September. The coin’s price increased to trade at $0.000073 amid growing user interest. It is worth noting that the dog token’s price surge has propelled it into the top 10 major cryptocurrencies by market capitalization, even surpassing its rival Dogecoin (DOGE).
This isn’t the first time Coinbase has topped Apple’s list of most popular apps. In May this year, after the company’s debut on the Nasdaq stock exchange, the application captured the first place in the App Store in terms of popularity. Previously, at the end of 2017, the stock market app also ranked among the top positions.
