Coinbase app downloads grow as retail traders come back

United States-based publicly-traded crypto exchange Coinbase is seeing its mobile application’s downloads grow as retail traders dive back into the market.

According to Similarweb data, Coinbase’s main application is the 260th most used application in the United States and the 22nd most used in the Finance category. This means that the application saw significant growth compared to its 306th spot overall and 25th in finance reported 28 days ago.

SensorTower app analytics data also show that Coinbase’s main application has seen 400,000 downloads last month alone. AppBrain shows that the application went from 40.4 million downloads on Oct. 1, 2023, to 45 million at the time of writing. This translates to nearly five million downloads in a year.

The recent renewed interest comes as retail interest in the market is seeing a resurgence. The Crypto Fear & Greed Index, a multifactorial measure of crypto market sentiment, currently stands at 61, indicating that greed has gripped the crypto market. In most cases, such a score would suggest that the market may be slightly overvalued — but it is far from a guarantee that the market will soon start to fall.

Still, some suggest that we may have to wait longer before the next bull run. In a