According to data compiled by The Block Research, Coinbase topped the top 10 charts in mid-April before climbing to second place on April 14, when it became a publicly traded firm on NASDAQ.
Coinbase Is King of the Hill
Coinbase, which went public on April 14 via a direct listing on Nasdaq, has been climbing up the charts in recent weeks. The firm topped the top 10 charts in mid-April. Behind it are the likes of TikTok, Instagram, YouTub. What’s notable is that Coinbase is the only crypto exchange in the top 25 list of free iOS apps in the US. In fact, it is currently the only finance-related app in the top 25 list, as all other apps are related to gaming, social media, or entertainment. Coinbase, on the other hand, is proving to be a strong challenger among its peers.
The data also shows that cryptocurrency-related advertising spend on Google AdWords rose sharply in Q1 2021. During Q1, there were 1,080 advertisers spending a total of $11.6 million on Google AdWords to promote cryptocurrency products and services. This is up from 780 advertisers spending a total of $5.9 million in Q4 2020.
The National Basketball Association (NBA) and Coinbase have announced their partnership. The partnership will allow users to buy, sell, and store cryptocurrencies on the Coinbase app.
The partnership is a part of the NBA’s broader initiative to embrace blockchain technology. The league has already partnered with Dapper Labs, the company behind CryptoKitties, to launch an official NBA collectibles platform using blockchain technology.
What is this surge in activity all about?
The surge in activity could be attributed to a number of factors, including the growing mainstream adoption of cryptocurrency and the increasing institutional interest in the space.
In the past few months, we’ve seen several high-profile companies such as Tesla, Square, and Mastercard enter the cryptocurrency space.
Furthermore, large institutional investors such as hedge fund manager Bill Miller and billionaire investor George Soros have also revealed their investments in Bitcoin.
With all of this mainstream attention, it’s no surprise that Coinbase is seeing a surge in activity and is now back on top of the iOS App Store charts.