Coinbase Global Inc’s COIN cryptocurrency trading application has propelled itself to the top of the Apple App Store charts for the iPhone.
What Happened: Coinbase’s app, which allows people to trade cryptocurrencies like Bitcoin BTC/USD came in first on the Top Charts list compiled by Sensor Tower, a provider of mobile app store marketing intelligence.
Crypto.com’s App was placed at number 5. Notably, the platform is running a “fortune favors the recent brave” advertising campaign featuring actor Matt Damon. Crypto.com was downloaded by 600,000 users last month, as per Sensor Tower data.
The app was placed ahead of applications like Facebook Inc’s FB Instagram and Snap Inc SNAP Snapchat.
See Also: How To Buy Coinbase (COIN) Shares
Why It Matters: Coinbase’s app was more popular than Bytedance’s TikTok and Alphabet Inc’s GOOGL GOOG YouTube at press time.
Coinbase was also the most popular downloaded app in the United States in both 2017 and May 2021, as per Cointelegraph. Notably, both periods saw a significant cryptocurrency frenzy.
The current surge in popularity of Coinbase and Crypto.com on the app correlates with euphoria in the cryptocurrency market as well. Last week, BTC hit an all-time of $66,930.39.
On Wednesday, Shiba Inu, a meme coin hit an all-time high of $0.00008845 triggering a meme-coin war with DOGE, which has since then been spiking as well. At press time, DOGE traded 26% high at $0.30.
The current description of Coinbase lists SHIB following BTC and ETH, noted Cointelegraph.
More on Apps: Best Crypto Apps
Price Action: On Thursday, Coinbase shares closed nearly 2.4% higher at $319.13 in the regular session and fell 0.45% in the after-hours trading.
Read Next: Shiba Inu Is Now Bigger Than Robinhood, Etsy And Pinterest
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
