The Coinbase app has fallen to 40th place in the finance category on the Apple App Store. Haseeb Qureshi of Dragonfly.xyz speculates on the factors contributing to this drop.
A prominent crypto executive has highlighted the significant decline in popularity of the Coinbase app on the Apple App Store. Haseeb Qureshi, managing partner of the crypto venture fund Dragonfly.xyz, has questioned why the app's performance differs so drastically from 2021. This comes amid the recent positive news that Bitcoin exchange-traded funds (ETFs) were approved by the United States Securities and Exchange Commission (SEC).
In a recent post on X (formerly Twitter), Qureshi revealed that Coinbase now ranks 40th in the finance category on Apple’s App Store. He contrasted this with its status three years ago when it consistently held the top spot. "In 2021, it was continuously ranked #1 in Finance, and on several days, was #1 across the entire App Store," Qureshi noted. He believes that once retail investors return to their previous levels of activity, new all-time highs for cryptocurrencies will be achieved. This observation underscores the dynamic nature of the cryptocurrency market and the influence of retail investor participation.
