Black Thursday helped the app …

Black Thursday helped Coinbase climb Apple App Store rankings

“Black Thursday”, as the cryptocurrency market participants called the day of the sharp drop in the price of bitcoin in mid-March, has a number of unexpected consequences for the industry. One of these consequences was the rise in the Apple App Store rating of the American exchange Coinbase..

As noted by The Block, the day after the crash, the Coinbase app climbed more than 40% and reached 383 positions.

New and repeated app downloads against the background of increased market volatility are cited as a possible explanation for the observed dynamics..

Previously, Coinbase provided its own analysis of the events of March 12-13, indicating a twofold increase in the number of new users and a threefold increase in activity during this time..

Black Thursday helped the app ...

“Bitcoin was created for these moments. Ultimately, Bitcoin’s value proposition should not be driven by the dynamics of external markets, but by its unique characteristics that make it potentially attractive as a store of value, “the exchange wrote..

Coinbase CEO Brian Armstrong also noted an increase in the share of deposits by $ 1,200, after US residents received incentive payments from the state for the same amount..

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