Coinbase Surges Back into Top 100 on Apple App Store Amid Bitcoin’s Price Rally
Crypto exchange Coinbase has made a strong comeback, reentering the top 100 rankings on the U.S. Apple App Store for the first time in over two years. The surge in rankings coincides with the recent price rally of Bitcoin, which has approached its all-time high. Here are the key points:
- The Coinbase app jumped from a ranking of 163rd to 98th in just one day.
- Currently, it is ranked at 49th, according to data from The Block.
- This is the first time Coinbase has been in the top 100 since February 2022.
Additionally, Coinbase has reached a yearly high rank of 4 in the finance category on the U.S. Apple App Store. Coinbase Wallet is currently ranked 13th, while Cash App holds the number one spot. On the Google Play Store, Coinbase ranks 24th in the finance category, with Coinbase Wallet at 33rd and Cash App still holding the top position.
Coinbase’s App Ranking Surge Despite Recent Platform Glitch
Despite experiencing a second zero balance platform glitch within five days, Coinbase’s app rankings have surged. Here are the key points:
- Coinbase reported increased latency and intermittent zero balance for some users.
- The exchange assured users that their funds were safe and that trading was not impacted.
- Last week, Coinbase experienced a similar technical glitch due to heavy traffic.
- Coinbase CEO Brian Armstrong acknowledged the need for auto-scaling solutions and eliminating bottlenecks.
Bitcoin Approaches All-Time High Amidst Price Rally
Bitcoin’s price has seen a significant surge, nearing its all-time high. Here are the key points:
- Bitcoin’s price surged nearly 10% to reach around $68,700.
- This is less than 0.5% shy of its all-time high of $69,000 set in November 2021.
- Currently, Bitcoin is trading at $66,836, up 58% year-to-date.
Hot Take: Coinbase’s App Surge Reflects Growing Crypto Interest
The resurgence of Coinbase’s app rankings on the Apple App Store demonstrates the increasing interest in cryptocurrencies. Despite recent technical glitches, users are still flocking to the platform to participate in the ongoing Bitcoin rally. This surge in popularity further solidifies Coinbase’s position as one of the leading cryptocurrency exchanges in the industry.
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