Coinbase jumps in the App Store rankings, signaling a wave of retail investors returning to the market.

robot
Abstract generation in progress

The Coinbase app has risen from rank 436 to 162 on the App Store in less than a month, equivalent to an improvement of 63%. This is a sign that retail investor interest is returning as the cryptocurrency market rebounds.

The App Store ranking of Coinbase has long been regarded as an effective cycle indicator, reflecting the level of participation of retail investors. In previous cycles, when Coinbase made it to the top of the App Store, the market was usually in a high FOMO stage and about to enter a correction phase.

However, in this cycle, the competitive landscape among cryptocurrency applications is changing, with Robinhood and many rival exchanges increasing their market share. This could dilute Coinbase's indicator role if many applications make it into the top 10 App Store.

H3.18%
APP-1.65%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)