There are no second thoughts that the industry of cryptocurrency enjoys increasing popularity and interests every day, all over the world. The recent report disclosing the App Store trends proves this fact. As per the latest reports published on 16th May 2019, Coinbase has made it to the list of trending apps on the App Store of Apple.
— RookieXBT (@RookieXBT) May 16, 2019
Coinbase is one of the most prominent digital currency exchange platforms that enables crypto enthusiasts to buy, sell, or store their crypto holdings. In fact, it is known for offering the easiest way to purchase digital currency with the fiat ones. Coinbase supports crypto exchange activities in more than 30 countries with its secure, easy, and swift platform.
Coinbase is trending on the Apple App Store pic.twitter.com/g5NLkIZqf6
— Miguel Mota (@miguelmotah) November 29, 2017
The fact that Coinbase app is trending points to people’s rising interest in digital currencies – whether it is for the purpose of trading or as an investment alternative. It surely is a good sign which indicates a wider crypto adoption is actually taking place at a global level.
The reason for this trend is also the recent price increase experienced by the crypto space. When the price of crypto surges, it also boosts the interests of traders and investors, both new and experts. It has been noted many times that such price increase actually drives the inactive traders back to the market and encourages them to participate again.
Erik Voorhees, ShapeShift’s CEO, shared some fascinating insights into the crypto market trends. He stated that the digital currency market and Bitcoin have a cyclic way of operation. Meaning, the cycle of market operations depend on different factors. Citing an example, Erik stated that 2017 saw Bitcoin hitting an all-time high value of 20 thousand dollars while 2018 witnessed the top crypto recording a huge price drop to 3,200 dollars in the month of December. Both the times, the crypto market had responded in a cyclic manner.
Now that the digital currency market has been registering positive trends again this year, things are looking brighter once again. The exchanges are witnessing new users, traders, as well as significantly higher trading volumes.
At the time of writing, the #1 crypto Bitcoin was being traded at $7,297.25. Ethereum, on the other hand, recorded a price of 236.49 USD, Litecoin was being traded at $88.21 while XRP registered a price of 0.377713 USD.
If the same trend sustains in the coming days as well, then other exchange platforms may also join the trend experienced by Coinbase.