Coinbase Climbs Apple App Store Charts Amid Bitcoin Rally

Coinbase, the popular cryptocurrency exchange platform, has made a remarkable resurgence in the Apple App Store rankings, marking its return to the top 100 for the first time in two years. Per The Block’s data dashboard, the surge in popularity comes amidst a soaring price of Bitcoin (BTC), with Coinbase’s app experiencing a substantial jump from its previous ranking of 163rd to 98th. 

Coinbase Secures a Spot at 49th on Apple App Store Ranking

As Bitcoin approached all-time highs, Coinbase’s app has further ascended, securing a spot at 49th in the rankings. The significant leap in Coinbase’s ranking reflects the growing interest and engagement in cryptocurrency trading, particularly as Bitcoin continues its upward trajectory. 

As one of the leading platforms for buying, selling, and storing digital assets, Coinbase has become a go-to destination for both novice and seasoned investors seeking exposure to the crypto market. Meanwhile, the resurgence of Coinbase’s app in the Apple App Store highlights the evolving dynamics of the crypto space and its increasing integration with mainstream finance.

Currently, Coinbase Wallet ranks 13th, while Cash App tops the chart as the first. 

Coinbase Commerce Service Integration

Recall that the American technology company Google announced its partnership with Coinbase in 2022.

This partnership allowed selected users to pay for its cloud services with cryptocurrencies starting from 2023, while the exchange draws on Google’s cloud infrastructure. This means that ten different currencies, including Bitcoin, Bitcoin Cash, Dogecoin(DOGE), Ethereum(ETH), and Litecoin, are now supported via Coinbase Commerce.

Furthermore, Google is investigating the use of Coinbase Prime, a service that securely keeps the businesses’ cryptocurrency and enables them to make trades.

Coinbase Charged for Securities Violations by SEC

Amidst the enthusiasm surrounding Coinbase’s climb in the app ranking, the exchange is still battling with the charges melted on it by the Securities and Exchange Commission (SEC). The SEC charged the crypto firm for operating as an unregistered broker and exchange operator, thereby violating regulatory requirements.

Likewise, the SEC accused Coinbase of selling investment contacts by staking customer assets, earning rewards on their behalf, and returning them. However, the exchange vehemently denied the allegation, citing that the process of securing a license is not easy for crypto enterprises.

Meanwhile, Bloomberg’s litigation analyst Elliott Stein is very confident about Coinbase chance of victory in its lawsuit against the SEC.