App store bull run? Coinbase trending, Cash App second behind Instagram

16 May, 2019
by Alberto Arnaldo
Breaking News
App store bull run? Coinbase trending, Cash App second behind Instagram

The influx of fiat into cryptocurrency markets over the last dates has certainly had an effect on the preferences of users of the App Store. With Coinbase trending and Square’s Cash App disputing the first spot in popularity against Instagram, it appears as if both firms are helping to funnel the funds of plenty of investors.

A screenshot was uploaded yesterday to Reddit displaying the Coinbase milestone, with commenters interpreting the event under a clearly bullish perspective.

 

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As the last message says, the situation certainly remembers that of 2017. Actually, a quick search throws back an identical thread, dated on the 27th of November of 2017, just a few weeks before Bitcoin’s all-time-high prices were reached. The most up voted comment on that thread is quite symptomatic of the state of things prior to a bubble-like bull run, and also displays a rather understandable feeling among those using Coinbase for the first time.

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Regarding Cash App, the mobile payments platform supported by Square Inc., the firm run by Twitter CEO and Bitcoin advocate Jack Dorsey, its performance as of late has been quite positive.

 

The metrics site SimilarWeb shows how Cash App, which enables Bitcoin purchases using fiat, is second on the Leaders board trailing behind Instagram, after moving up seven spots on the table in one day. The rank is determined by a custom algorithm that factors in current installs and active users, according to SimilarWeb.

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