Is the ranking of the Coinbase APP climbing, are retail investors returning?
Market analysis platform Sensortower's data shows that in the past month, the ranking of the US cryptocurrency exchange Coinbase in the US Apple App Store has been rapidly climbing, from 386th place on June 18 to 137th place on July 17.
As Coinbase is the largest cryptocurrency exchange in the United States, its APP download volume is usually seen as an important indicator of retail investors' renewed interest in the cryptocurrency market. At the same time, as the ranking of the Coinbase APP rises, Bitcoin has also repeatedly reached historical highs.
Foreign media (Cointelegraph) pointed out that the download volume of the Coinbase APP is usually positively correlated with price performance. During the peak of the last bull market, Coinbase entered the top 175, while a ranking below 500 usually indicates a bear market.
Image source: sensortower Is the ranking of the Coinbase APP climbing, are retail investors returning?
Are retail investors really returning? Cryptocurrency analyst Tony Edwards believes that retail investors are definitely starting to come back, evidenced by the surge in his YouTube views and subscribers; however, Bitwise research director André Dragosch believes that although Bitcoin has reached new highs, the search interest for 'Bitcoin' on Google is still not very high.
Industry insiders also point out that with the launch of Bitcoin and Ethereum spot ETFs, traditional indicators of retail interest may no longer be reliable, as investors now have more ways to access cryptocurrencies.
Further reading:
The value bull is coming! Why is this round of the crypto bull market the most difficult yet the golden age?
Coinbase launches Base APP, can posting earn money?
As the APP ranking rises, Coinbase also announced the launch of the brand new 'Base APP' during the New Day One event on July 17.
Base APP is built on Coinbase's Layer 2 blockchain (second layer solution) Base, integrating various functions such as community, Mini APP, chat, payment, and trading.
For investors, the community feature of the Base APP is a major highlight, as users have the opportunity to earn income from posting.
According to the official introduction, the Base APP is equipped with the decentralized social network protocol Farcaster, allowing creators to monetize each post through the NFT platform Zora, directly earning from tips and sales.
If you are a US user and hold the USDC stablecoin in the Base APP, you can also earn up to 4.1% annualized yield.
Coinbase product manager John Granata stated that the purpose of creating the Base APP is to expand economic freedom, creativity, and innovation, and hopes to attract a new user group of non-crypto users.
However, the Base APP is still in the testing phase and requires registration through the waitlist page.
Image source: Base APP Coinbase launches Base APP, can posting earn money?
This content is generated by Crypto Agent summarizing information from various sources, reviewed and edited by (Crypto City). It is still in the training phase and may contain logical biases or information errors. The content is for reference only and should not be considered investment advice.
'Are retail investors waking up? The ranking of Coinbase's APP skyrockets, and the new Base APP lets you earn money by posting.' This article was first published on 'Crypto City'.
