Coinbase overtakes TikTok for #1 position on Apple app store

Coinbase overtakes TikTok for #1 position on Apple app store

Major cryptocurrency exchange Coinbase’s mobile app now tops the charts for the U.S. Apple App Store.

According to the Top Charts list on the Apple App Store, Coinbase is currently the most popular app in the United States, ahead of TikTok, YouTube, Facebook, Instagram, and trading app Robinhood. Cash App, which allows users to send money and buy Bitcoin (BTC), sits in the #12 position at the time of publication, while Binance’s and Trust’s apps are at #16 and #17, respectively. 

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Coinbase’s app had been near the top of Apple’s App Store last month, often behind Robinhood in the number one position. However, since the company began trading its stock on the Nasdaq in April, attention from the public seems to have risen, potentially leading to an increase in the number of desktop and mobile users. The crypto exchange has also since partnered with auction giant Sotheby’s to facilitate crypto payments.

In contrast, U.S. lawmakers may still have their eyes on Robinhood following allegations of market manipulation from the trading app as well as from major hedge funds in response to Redditors’ short squeeze of GameStop stock and others earlier this year. Last week the House Financial Services Committee held its third and reportedly final hearing regarding the controversy over GameStop stock shorts, but Robinhood CEO Vlad Tenev spoke at the first hearing in February.

First available on the Apple App Store in 2014, Coinbase's trading app had approximately 2 million downloads in April according to data from analytics site SensorTower.

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