According to information from The Block, in the USA, the mobile application of the Coinbase exchange rose to 45th place in the "Finance" category of the App Store on January 31st. This growth was observed after the application was ranked 49th on December 1st of the previous year. At the end of December, there was a sharp increase in downloads, and Coinbase climbed to 16th place in the US ranking. However, by the end of January, the application had once again dropped in its rankings.
Ranking of cryptocurrency exchange applications in the 'Finance' category of the App Store in the USA
It is worth noting that Binance.US holds the 46th place, and Kraken is ranked 116th in the application rankings in the "Finance" category. Meanwhile, the mobile payment service Cash App retains the second place in this ranking.
Analyst Rebecca Stevens linked the increase in popularity of financial applications in December to the anticipation of the launch of spot Bitcoin ETFs in the United States. Recall that on January 10th, the U.S. Securities and Exchange Commission (SEC) approved the listing of investment products.
The expert explained Coinbase's loss of its positions at the end of January as a result of increased competition from other trading platforms:
Interestingly, after the launch of the Base network, Coinbase CEO Brian Armstrong expressed dissatisfaction with the convenience of the application. One of the developers even suggested improvements so that users could quickly make payments using credit cards without creating a separate account.
It is important to note that Apple removed applications from eight cryptocurrency exchanges in India, including Binance and Kraken, but the Coinbase app was not on this list. Subsequently, the Play Store team blocked access to Binance and OKX applications in the country.
