As Bitcoin price surged to $42,000 making it to the all-time high for January, users have increased remarkably in Coinbase recently. Statistics from Similarweb and Alexa show that the crypto exchange platform has become extremely popular among traders making it rank among the 400 most popular sites of the U.S. Due to the recent upheaval of Bitcoin price, BTC exchanges have become the recent vogue in the country.
BTC Price Behind Rising Popularity Of Coinbase
Cryptocurrency exchanges saw a great surge in a few months. Exchange platforms like Binance U.S, Kraken, and Gemini have taken positions among the top 10,000 sites of the world. In this regard, Coinbase has become the most popular site especially for the domestic market and ranked 386 on the list of most trendy U.S sites. In terms of global popularity, Binance is ranking above it.
At the beginning of this year, the increasing popularity of cryptocurrency showed a direct effect on the exchange platforms though the hike was already presumable from the last month of 2020.
According to the Anthony Pompliano digital co-founder Morgan Creek, Coinbase has witnessed more than 1.3M downloads which are reportedly more than the combined count of downloads of Sofi, TD Ameritrade, Charles Schwab, E-trade, and Fidelity. The app now ranks among the top ten on the list of popular crypto finance apps of App Store of Apple while Binance U.S and Binance also rank within the top ten apps. Robinhood also saw a similar kind of surge in its number of downloads in the previous week.
It is reported that Coinbase has become the most preferred destination for a large amount of purchase as well as a trustworthy platform to know the current state of the crypto market.
According to CryptoQuant CEO Ki Young Ju, the bullish surge in Bitcoin price is visible through this exchange platform. BTC has recently taken a 13% rise in its price proving the bearish assumptions wrong. The price is expected to increase more.
