Coinbase, a leading US-based cryptocurrency exchange, has seen a significant increase in its trading volume and ranking on Apple’s iOS App Store, thanks to a surge in interest in cryptocurrencies following the US midterm elections. The exchange, whose app previously ranked 26th in the free finance category, jumped to the top spot on November 17, according to Decrypt reports, which cites data from CoinGecko.
This increase in ranking coincides with a significant increase in the trading platform’s trading volume, which exceeded $12 billion on November 12, setting a record for this year’s trading volume. Robinhood and Crypto.com followed Coinbase and jumped into the top 10 in the same category. Coinbase, founded in 2012, is one of the largest cryptocurrency exchanges in the world, with over 100 million users and a trading volume that exceeds $3 billion per day.
The exchange offers a wide range of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, as well as stablecoins and fiat currencies. Coinbase is also one of the most secure cryptocurrency exchanges, with a strong focus on security and compliance. The recent surge in interest in cryptocurrencies, and in particular, the US midterm elections, has led to a significant increase in the trading volume on cryptocurrency exchanges.
This increase in interest is likely due to the fact that cryptocurrencies are becoming increasingly popular as an investment vehicle, and as a means of storing value. Cryptocurrency exchanges, such as Coinbase, are therefore likely to continue to see increased trading volumes and rankings on app stores in the coming months.
