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Coinbase’s app ranking among iPhone finance apps hit a recent high of 16th place on Dec. 25, 2023.
It’s since fallen back down to 46th spot, near where it was before the spot bitcoin ETF craze of the last two months.
After surging up in ranking among finance apps on Apple's App Store in December, Coinbase's app is back near where it started before a frenzy of excitement about spot bitcoin ETFs that peaked over the past two months.
Coinbase's app stood in the 49th spot in the App Store for Finance iPhone apps on Dec. 1, 2023, before climbing to the 16th slot on Dec. 25. Now the app has fallen back down to 43rd place on as of Jan. 30, according to data compiled by The Block.
"In the wake of the drawdown in crypto asset prices and also the new venues that retail traders can now get exposure to crypto without leaving their primary brokerage, it is not so surprising that we'd seen Coinbase's app popularity begin to slip," said The Block Senior Research Analyst Rebecca Stevens.
Anticipation for the first ever spot bitcoin ETF approval in the U.S. experienced a palpable uptick in December 2023 and early January, coinciding with a bull run on cryptocurrency prices.
The market has since cooled off a tad after the Securities and Exchange Commission approved 11 spot bitcoin ETFs on Jan. 10.
Source: theblock.co
| Coin | Change(%) | Price | Volume (24h) |
|---|---|---|---|
| Bitcoin (BTC) | 3.71 | $72,084.86 | $45.5B |
| Ethereum (ETH) | 3.43 | $4,038.91 | $20.8B |
| XRP (XRP) | 18.52 | $0.727106 | $4.4B |
| Solana (SOL) | 1.58 | $147.242060 | $3.8B |
| Binance Coin (BNB) | -2.22 | $519.52 | $3.0B |
| USD Coin (USDC) | 0.03 | $0.999697 | $2.4B |
| Dogecoin (DOGE) | 0.96 | $0.174374 | $2.1B |
| Shiba Inu (SHIB) | -2.92 | $0.000033 | $1.7B |
| Floki Inu (FLOKI) | -7.67 | $0.000267 | $1.3B |
| Avalanche (AVAX) | 13.16 | $47.596296 | $1.2B |
