- How Bitcoin impacts Coinbase’s reach on App Store
- Coinbase recent support of XRP in New York
- Ethereum (ETH), an unsung hero in the market
Coinbase, a US-based cryptocurrency exchange, is getting popular every day due to the increase in potential investors and those who seek basic knowledge about what crypto trading is all about.
Bitcoin as the leading cryptocurrency has lately experienced a substantial increase in price, giving all related commodities and institutions boost to be widely known.
BTC has been oscillating around $8000 for the past two days. A well respected crypto analyst has recent advised traders to retract from buying Bitcoin for now, believing that the digital asset would experience another market price drop before it embarks on a magnificent bull run.
Alternative coins are also not left behind as some of them gained from the energy exhibited by Bitcoin, the leader in the market.
Ethereum (ETH) has also been excellent, standing tall with about 14% price surge in the last 24 hours, unlike Bitcoin that have seen just 0.25% price increase. The fact that only BTC gets the accolade makes ETH stands presently in the market as unsung hero.
Coinbase Gains from Bitcoin Price Hype
Since the BTC price increase was noticed, Coinbase has been enjoying the euphoria of the moment with voluminous exposure to iOS users on the App Store.
The recent trending list shared by a reddit user indicates that Coinbase is 7th most searched word on the popular mobile application store, and these can be simply attributed to the increase in price of all cryptocurrencies especially Bitcoin.
Coinbase Support for XRP in New York
Another boost to Coinbase’s popularity was the recent announcement it made about supporting Ripple XRP in New York, giving residents of the city access to buy and sell the digital currency through its exchange platform.
Coinbase made the announcement via twitter on 13th May, 2019. This has indeed enhanced the sphere of its reach on App Store.
Impact of the Crypto Market Crash of 2018
In the late 2017, the crypto market situation was welcoming. This ushered in a lot of investors with the hope of seeing constant price increase.
Unfortunately, 2018 recorded a time of abject disappointment as cryptocurrency market dropped significantly in price, which eventually turned off many potential investors.
However, second quarter of 2019 has brought back the lost fame. Bitcoin and other digital currencies are flying higher in the market, convincing more investors to hodl, while traders that have accumulated coins are restraining from selling their assets, hoping for a life changing Bull Run.