Mobile Crypto Apps Are Climbing the Charts as Bitcoin Blasts Off

Mobile cryptocurrency apps have risen to the top of the App Store rankings amid a surge in the prices of Bitcoin and other cryptocurrencies, resulting in a big increase in the total market capitalization for all coins, which previously this week surpassed $3 trillion.

Coinbase leads the charge, jumping from No. 26 on Election Day to No. 1 on Friday in the Free Funding category of Apple’s App Store for iOS devices. The ranking increase corresponds with significant spikes in trading volume on the exchange, which exceeded $12 billion on November 12, marking the highest volume day this year. according to data from CoinGecko.

Other major crypto apps like Robinhood and Crypto.com followed in Coinbase’s footsteps and jumped into the top 10 in the same category.

Historically, rising crypto prices have correlated with increased popularity of major exchanges and their respective apps, which are more accessible to mainstream retail buyers than decentralized platforms aimed at crypto experts.

But this time, it’s not just the top crypto brands making their presence known in the App Store rankings. Moonshot, a mobile trading platform for meme coins, rose 388 spots – from outside the top 400 apps – to number 84 in the Free Finance category over the same period.

Launched in July, Moonshot has amassed more than 90,000 downloads on Google’s iOS App Store and Android Play Store, based on data from SensorTower.

Aimed at onboarding retail participants (or those with less crypto knowledge), Moonshot allows users to bypass the complications of wallet seed phrases and decentralized exchanges to invest in meme coins, or highly volatile tokens based on internet memes, celebrities and more.

Instead, Moonshot allows users to deposit using popular payment methods like Venmo or debit card, giving them near-instant access to meme coins that would otherwise be unavailable on centralized exchanges like Coinbase.

The rise in the rankings is in line with the company’s reported figures record-breaking fiat deposits to Moonshotand new daily high sales of over $130,000 on November 12 according to data from DefiLlama.

“Boomers are running. Coming before #1,” Moonshot (aka X) responded on Twitter as the app overtook TradFi investment app E-Trade.

However, the competition is fierce – and there is more to come. Established platforms like Photon and BullX offer more advanced traders access to a greater number of meme coins and earlier entry points directly into the chain. Meanwhile, the team behind Tensor, the Solana-based NFT marketplace, is gearing up to release its social trading platform Vector.fun.

That said, the success of Coinbase and other crypto apps in the App Store rankings is sometimes seen as a “top signal” in crypto circles, in other words – a signal that the cycle and prices could be reaching their local high , with an impending correction. .

But maybe this time it will be different? Founder of the DeGods NFT project and crypto personality Rohun Vora (aka Frank DeGods), tweeted“There is no top if Coinbase is number 1 [the] App Store, it will be when Phantom is.

Phantom, the popular multi-chain crypto wallet, ranked No. 6 in Apple’s Utilities category late Friday.

Edited by Andrew Hayward