Coinbase Takes No. 1 Spot on Apple’s App Store

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Digital currency enthusiasts and outside observers alike have been intently focused on Bitcoin’s volatile price activity over the course of the last several days, as the world’s most well-known cryptocurrency soared to more than $18,000 before declining to around $15,000 earlier today. As Bitcoin was enjoying that record-setting run, the Coinbase mobile app enjoyed another type of milestone on Thursday. As Bloomberg reports:

“The software application for Coinbase Inc., operator of one of the world’s largest cryptocurrency exchanges, climbed to the top of Apple’s download ranking for free apps in the U.S. on Thursday.”

For context, it’s worth noting that the Coinbase app was the 229th most-downloaded Apple app as of November 8, 2017. At that time, Bitcoin was still more than a week away from surpassing $8,000 for the first time. Since then, the digital currency’s price has more than doubled and Coinbase has experienced a surge in new customer signups.

That achievement will come as no surprise to many crypto enthusiasts who have long believed that it was only a matter of time until digital currency enjoyed more mainstream awareness and acceptance. Still, the app’s rise came on a day when many Coinbase customers were struggling to gain access to the company’s services.

Thursday’s increased trading activity placed a strain on Coinbase’s systems, and forced the company to temporarily take its site down for maintenance. Of course, Coinbase was not the only exchange that struggled to keep pace with the day’s trading frenzy, as several other exchanges experienced similar challenges.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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