Cryptocurrency exchange Gemini has surpassed Coinbase in app rankings following the launch of a special XRP card. These developments coincide with the anticipated initial public offering (IPO) of Gemini.
Launch of Gemini's XRP Card
Gemini has launched its XRP credit card in partnership with Mastercard and Ripple Labs. In a statement on platform X, the company announced: "This limited edition metal card gives up to 4% back in XRP instantly. No waiting, just stacking."
App Store Rankings
Following the card's launch, Gemini climbed to 11th place in the Apple App Store financial applications rankings in the U.S., while Coinbase ranked 20th. This was confirmed by Sensor Tower.
Comparative Trading Volumes of Gemini and Coinbase
Despite its success in the App Store, Coinbase continues to significantly outperform Gemini in trading volumes. According to CoinMarketCap, Coinbase ranks third among cryptocurrency exchanges with a daily trading volume of $4.54 billion, whereas Gemini sits at 24th place with $382.49 million.
The developments surrounding the XRP card launch and the shifts in App Store rankings highlight the dynamics of the cryptocurrency market and competition among exchanges. The anticipated IPO of Gemini may also lead to new changes in the industry.
