Coinbase Surges in App Store Rankings…“A Sign of Renewed Retail Investor Interest”
Suehyeon Lee
Summary
- Coinbase’s App Store ranking has recently surged.
- This ranking is cited as a key indicator of retail investor participation in the virtual asset market.
- Historically, sharp rises in Coinbase’s app ranking have been accompanied by market overheating and rapid price surges.
As Bitcoin (BTC) surpasses $120,000 again and the market gains momentum, Coinbase's position in the App Store rankings has soared.
According to The Block on the 17th (local time), the Coinbase app is currently ranked 162nd, a jump of 63% from the 3-month low of 436th recorded a month ago. Coinbase’s ranking has been considered a barometer of participation by retail investors in the virtual asset (cryptocurrency) market.
The outlet analyzed, “Historically, when Coinbase’s App Store ranking has climbed to the top, it has usually coincided with peak public investment enthusiasm, market overheating, and rapid price surges.”
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
