Web 3 and DeFi Dominates Coinbase Investment in Q3, Hits Top Spot on Apple’s US App Store
The mobile app of cryptocurrency exchange Coinbase has climbed to the top spot on Apple’s US App Store.
This isn’t the first time that the leading exchange is dominating the App Store in the US. Back in May, around the peak of the market and right before the major sell-off, Coinbase’s app ranked at number one, much like it did in the 2017 bull market.
But with crypto going mainstream, it makes sense that Coinbase is yet again climbing to the top.
The reason Coinbase is the most downloaded iOS app in the US over the last few days could be attributed to the zoomer meme coin SHIB surging more than 200% in less than a week. SHIB 11.87% SHIBA INU / USD SHIBUSD $ 0.00
$0.0011.87% Volume 16.82 b Change $0.00 Open $0.00 Circulating 10 t Market Cap 41.1 b 30 min Web 3 and DeFi Dominates Coinbase Investment in Q3, Hits Top Spot on Apple’s US App Store 6 h Bitcoin Market Is Not as Leveraged as it Looks, Gas Spikes as Ether Hits a New ATH 1 d Zoomer Meme Coin (SHIB) Outperforms the Boomer Meme Coin (DOGE), Will This Mark the Top of the Cycle Again?
As we have been reporting, Shiba Inu has been the top trading crypto asset on Coinbase for the last few days and accounting for the majority of the exchange’s trading volume, sometimes as much as 40%.
Also, during this time, Bitcoin made its way back above $60,000 and Ether has rallied above $4,000 to its new highs. BTC 2.91% Bitcoin / USD BTCUSD $ 62,002.35
$1,804.272.91% Volume 39.01 b Change $1,804.27 Open $62,002.35 Circulating 18.86 m Market Cap 1.17 t 30 min Web 3 and DeFi Dominates Coinbase Investment in Q3, Hits Top Spot on Apple’s US App Store 1 h The Wharton School to Accept Bitcoin, Ether, and USDC for its “Economics of Blockchain and Digital Assets” Program 5 h Starbucks Card Is Now Reloadable with Cryptocurrencies, Coffee Giant Exploring Tokenizing Through Blockchain ETH 4.44% Ethereum / USD ETHUSD $ 4,367.35
$193.914.44% Volume 24.59 b Change $193.91 Open $4,367.35 Circulating 118.13 m Market Cap 515.9 b 30 min Web 3 and DeFi Dominates Coinbase Investment in Q3, Hits Top Spot on Apple’s US App Store 1 h The Wharton School to Accept Bitcoin, Ether, and USDC for its “Economics of Blockchain and Digital Assets” Program 4 h Crypto.com Integrates with Solana, App Becomes 3rd Most Downloaded as Ad Featuring Matt Damon Airs Worldwide
As the bulls make a reentry, Coinbase has climbed up the ranks. Another crypto trading app Crypto.com’s iOS, has also become one of the most downloaded apps in the US, reaching the fifth spot on Apple’s U.S. App Store.
Record 49 investments
This week, the exchange also reported that their Coinbase Ventures has grown to become one of the most active VC investors in crypto by deal count, having made a record 49 investments in Q3. Back in Q2, Coinbase Ventures’ investment totaled 28 and 24 in Q1.
As of Q3 2021, the portfolio size of Coinbase Ventures stood at over 200 companies and projects, said the exchange.
Interestingly, 90% of the capital invested by Coinbase Ventures has been deployed this year so far.
Coinbase also reported its investment ranging from six-figure seed meals to multi-million dollar growth rounds in categories including Protocols + Web3 infrastructure (29%), DeFi (24%), CeFi (18%), Platform + Developer Tools (15%), NFT / Metaverse (9%), and others.
In other news, Coinbase has updated its KYC (know-your-customer), which financial regulators say is required to help ensure a safe and secure trading experience for its users, first noted by Mira Christanto, a researcher at crypto data site Messari.
In its updated KYC, Coinbase is asking its users to provide additional details about past and current occupation, businesses involved in, LinkedIn profile, a valid ID, source of the fund deposited on the exchange and supporting documentation, source of wealth and supporting documentation, nature of the use of Coinbase account, and bank statements bearing proof of address.
Coinbase also wants an explanation and documents for when the user started trading crypto and how the growth grew; as a result, provide them an expected activity on the account, nature of incoming and outgoing crypto transactions, and statements of digital assets held on other platforms.