Key Takeaways
- As cryptocurrency trading activity has increased, Coinbase has taken the lead in the App Store’s Free Finance category.
- An app for trading meme coins Moonshot jumps 388 places in the rankings.
- A possible change in market dynamics is indicated by rising crypto app rankings.
The popularity of mobile cryptocurrency apps on Apple’s App Store is rising as a result of the recent spike in Bitcoin and other digital assets.
With Bitcoin hitting a record high of $93,434, the cryptocurrency industry has achieved a record $3 trillion in size, indicating heightened investor interest.
Crypto Apps Are at the Top of the List
Coinbase has risen from 26th place to the top of the App Store’s Free Finance category, riding the tide of increased trading activity. CoinGecko reports that on November 12, the platform’s trade volume reached $12 billion, the biggest of the year.
Following earlier patterns in which growing cryptocurrency values increased the importance of centralized exchange apps, other cryptocurrency apps, such as Robinhood and Crypto.com, have also risen into the top 10.
Since its July launch, Moonshot, a meme coin trading platform, has proven to be an exceptional performer. The app moved up from outside the top 400 to number 84 in the Free Finance category.
Moonshot circumvents conventional wallet installations by allowing deposits via well-known payment methods like Venmo and debit cards, making it ideal for individual investors with little to no expertise with cryptocurrencies.
According to DefiLlama, the app has received over 90,000 downloads, recorded record fiat deposits, and reached a daily revenue high of $130,000 on November 12.
The explosive rise in popularity of meme currencies, which are erratic tokens linked to online trends, is reflected in Moonshot’s quick expansion.
The business humorously admitted its rise on social media, saying it was “coming for #1” after surpassing more established financial apps like E-Trade.
Platforms like Photon, Phantom, and BullX, which serve experienced traders with more access to meme coins and on-chain tools, pose a threat nonetheless.
Moonshot’s Rapid Ascent: How Memecoins Are Influencing the Crypto Trend
The popularity of apps like Moonshot demonstrates how important meme coins are in drawing in new investors to the memecoins subcategory. Memes promise enormous profits despite their volatility, which piques speculative interest.
With Coinbase’s recent listing of PEPE and Dogwifhat (WIF), which saw price increases of 79% and 45%, respectively, the “memecoin supercycle” gained even more traction.
Coinbase added to the excitement by teasing the revelation on X with a lighthearted post.
Viral occurrences like Elon Musk’s tweet about “a squirrel and a meme coin,” which drove PNUT skyrocketing by 1000% in just one week after its Binance launch, have also contributed to the trend.
Trending as well
You might also want to look at these three coins if you want to learn more about the most well-known cryptocurrency apps.
The first meme coin with its own Ethereum Layer 2 blockchain is Pepe Unchained ($PEPU). There is no time to lose if you want to contribute; the initial coin offering (ICO) has raised $32 million and ends in 27 days.
Flockerz, often known as the “meme coin of the people,” is the first cryptocurrency that allows token owners to vote to earn tokens. With the ability to vote on ideas and earn prizes, the Flock community has authority over the project. Flockerz has raised about $2 million at the end of its current price stage, which is in just one day.
A meme coin ecosystem called Crypto All-Stars ($STARS) presents the novel idea of unified staking for meme coins. The presale funding total is on track to reach $4 million, which is good news for cryptocurrency investors. With just one day left before the price increases, $STARS is now trading at $0.001568.
