Coinbase Climbs App Store Rankings as Retail Interest Debate Rekindles

Coinbase has surged to rank 137 in the US Apple App Store, a notable jump often seen as an early signal of rising retail interest in crypto markets.

According to Sensor Tower data, the exchange’s ranking has climbed 65% over the past month, rising from 386 to 137 while Bitcoin has gained 10% during the same period.

Historically, Coinbase app downloads have mirrored crypto movements .

During past bull markets, Coinbase consistently entered the top 175 of app store charts, whereas ranks below 500 often aligned with prolonged bear markets.

Bitcoin’s recent surge to a new all-time high of $122,884, currently trading around $118,294, has fueled speculation that retail investors might be returning.

Mixed Signals on Retail Return The crypto community remains divided on whether retail is truly coming back.

Crypto analyst Tony Edwards noted on X that retail is “definitely starting to come back in,” citing a spike in his YouTube analytics.

Similarly, Lab4Crypto remarked that “the crowd is slowly returning,” urging investors not to miss out if this marks the beginning of a new retail wave.

However, some remain cautious.

André Dragosch, head of research at Bitwise, argued that “retail is almost nowhere to be found,” pointing to stagnant Google search interest for “Bitcoin” despite its price surging to new highs.

Crypto trader Elisa echoed this sentiment, highlighting that Google Trends data for “crypto” remains far below the peaks seen during the 2021 bull market.

Traditional Indicators May Be Losing Reliability While retail interest is often gauged through app downloads and search trends, some industry observers warn these metrics may not reflect the complete picture in the current market.

The rise of spot Bitcoin and Ether ETFs has provided retail investors with alternative avenues for crypto exposure, potentially reducing the reliance on direct exchange sign-ups.

Since their January 2024 launch, spot Bitcoin ETFs have amassed $53.05 billion in inflows , while spot Ether ETFs, launched in July 2024, have attracted approximately $6 billion, according to Farside data.

Bitfinex analysts noted on Tuesday that new Bitcoin buyers appear to be price-agnostic, with wallets holding between 1 and 100 BTC accumulating around 19,300 BTC monthly, outpacing the 13,400 BTC monthly issuance post-April 2024 halving.

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