The Gemini app, providing access to a cryptocurrency exchange, has significantly risen in rankings following the launch of a new credit card. It now holds higher positions compared to Coinbase.
Gemini's Popularity Growth
The Gemini app ranked 11th among finance apps in the US, jumping from 158th to 11th place in just two weeks, while the Coinbase app sits at 26th.
Launch of XRP Credit Card
Gemini launched an XRP-based credit card in collaboration with Ripple Labs and Mastercard. The credit card offers users up to 4% back in XRP on gas purchases and a $200 XRP bonus for spending $3,000 within the first 90 days.
Comparison with Coinbase
Despite success in app rankings, Gemini lags behind Coinbase in trading volume. Coinbase recorded a trading volume of $4.54 billion in the last 24 hours, while Gemini reported only $382.49 million. However, Gemini continues to expand its operations, having obtained the MiCA license to operate in the EU.
Thus, even though Gemini has succeeded in app rankings, the trading market remains competitive, with Coinbase continuing to dominate trading volume.
