Major United States-based cryptocurrency exchange Coinbase Inc. COIN is now the most downloaded mobile application for Apple Inc.'s APPL mobile devices, overtaking giants such as TikTok, YouTube and Instagram.
What Happened: Coinbase is — as of the time of writing — the top allocation in all categories in the United States, with crypto services app Crypto.com CRO/USD being sixth, according to data reported by mobile application data service SensorTower.
Since its launch in 2014, Coinbase's iOS application has seen almost 1.5 million downloads and a sudden increase in downloads over the last 48 hours.
Furthermore, SensorTower data also shows that Coinbase is the second most popular app in the United States on Alphabet Inc's GOOG GOOGL Play Store. Square Inc's SQ crypto-enabled payment app Cash App ranks fifth and Crypto.com ranks seventh.
See Also: HOW TO BUY COINBASE (COIN) STOCK
The news follows recent reports suggesting that Coinbase's stock is currently following Bitcoin BTC/USD into consolidation and Citi analyst Peter Christiansen predicting that its price is headed towards $415.
COIN Price Action: Coinbase shares were up 1.76% at $317.15 late in Thursday's session.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Visit Benzinga's Crypto Homepage - 1,000,000+ depend on Benzinga Crypto every month