Mobile cryptocurrency applications are topping store rankings as Bitcoin and other assets experience a price surge.
Coinbase Leads the Crypto Apps
In the Free Finance category of Apple's App Store, Coinbase made significant gains in rankings. The exchange climbed from #26 on Election Day to the top spot by Friday, November 15, coinciding with a surge in trading volumes, which surpassed $12 billion on November 12 according to CoinGecko.
New Entrants Like Moonshot Impresses
With rising asset prices, major crypto platforms typically see increased popularity. However, notable new players like Moonshot, launched in July for meme coin trading, have made substantial strides. The app climbed to #84 in the App Store rankings with over 90,000 downloads.
Is the Bullish Cycle Over?
Market observers regard the success of apps like Coinbase as a major signal indicating potential local price highs. Despite this, many analysts believe the market has yet to peak, cautioning against using an exchange's ranking as a definitive market cycle cap.
The rise of crypto applications alongside increased capitalization reflects current market trends, though analysts warn of a possible correction ahead.
