Cryptocurrency exchange Gemini, founded by Cameron and Tyler Winklevoss, has overtaken Coinbase in the App Store finance rankings after announcing the release of an XRP rewards credit card.
Gemini Gains Momentum in App Store Rankings
Gemini reached 16th place in the finance category, while Coinbase slipped to 20th. This change follows the launch of a limited-edition metal card offering up to 4% cashback in XRP. Data from Sensor Tower indicates that Gemini's ranking surge is associated with an increase in app downloads.
Coinbase Maintains Lead in Trading Volume
Despite Gemini's rise in visibility, Coinbase remains the leader in actual trading activity, handling $4.54 billion in trades over the past 24 hours. In contrast, Gemini managed $382.49 million in volume, placing it 24th among exchanges.
Gemini's Prospects in the Cryptocurrency Market
The recent boost in rankings comes just weeks after Gemini filed to list its Class A common stock on Nasdaq. The launch of the XRP rewards card and the upcoming public listing may represent significant steps in expanding Gemini's presence in the U.S. cryptocurrency market.
In conclusion, while trading volumes currently remain modest compared to Coinbase, Gemini's innovative approach and plans for a public listing may be paramount in influencing its future in the crypto space.
