Mobile cryptocurrency apps have jumped into the App Store ranks as bitcoin and other crypto prices have soared, resulting in a massive increase in the market value of all coins — surpassing $3 trillion earlier this week.
Coinbase leads the charge, jumping from #26 on polling day Friday in the free finance category for iOS devices in the Apple App Store. The ranking boost compared to the transaction volume on the exchange exceeded 12 billion dollars on November 12, which according to CoinGecko data shows the highest volume recorded this year.
Other major crypto apps like Robinhood and Crypto.com followed Coinbase's footsteps by jumping into the top 10 in the same category.
Historically, the rise in crypto value has been associated with the popularity of major exchanges and their respective apps, which are decentralized platforms more accessible to major retail buyers and aimed at crypto professionals.
But this time, it's not just the major crypto brands that are known for their presence at the App Store level. Moonshot, a mobile meme coin trading platform, jumped 388 spots—out of the top 400 apps—to #84 in the same time frame.
Launched in July, Moonshot has garnered more than 90,000 downloads on the iOS App Store and Google Android Play Store, based on data from SensorTower.
Focused on onboarding retail participants—or those with little crypto knowledge—Moonshot allows users to bypass wallet seed phrases and decentralized exchanges to invest in meme coins or highly volatile tokens based on internet memes, celebrities, and others.
Instead, Moonshot allows users to deposit via popular payment methods like Venmo or a debit card, allowing them to quickly access meme coins that aren't readily available on centralized exchanges like Coinbase.
The rise in rankings comes from the company reporting a record breaking fiat deposit on Monshot and a new record high of over $130,000 on Nov. 12, according to data from DefiLlama.
“Boomers are rolling. Coming for #1,” Moonshot commented on Twitter (pronounced X) as the app surpassed TradFi Investment App e-Trade.
However, competition is fierce – and more is coming. Established platforms such as Photon and BullX offer more sophisticated traders access to a wider range of mame coins and earlier entry points on the chain. Meanwhile, the team behind Tensor—a Solana-based NFT marketplace—is preparing to release its social trading platform, Vector.fun.
That said, the success of Coinbase and other crypto apps in the App Store rankings is sometimes seen in crypto circles as a “high signal”, in other words, a sign that the cycle and their prices may reach their local highs, a correction is about to take place.
But could this time be different? DeGods NFT Project founder and crypto personality Rohun Vora (Frank DeGods) tweeted, “Coinbase is not in the top when it is #1. [the] App Store, it will be when it becomes Phantom.
Phantom, the popular multi-chain crypto wallet, ranked #6 in Apple's utilities category as of late Friday.
Edited by Andrew Hayward.
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