XRP News Today: Gemini Surpasses Coinbase in App Store Rankings After XRP Mastercard Launch

Gemini, the cryptocurrency exchange co-founded by Tyler and Cameron Winklevoss, has recently overtaken Coinbase in the finance category of the US Apple App Store rankings, a notable shift in a highly competitive market. The surge followed the launch of the XRP Mastercard, a limited-edition credit card offering up to 4% cashback in XRP, in partnership with Ripple and Mastercard [1].

Before this development, Gemini was ranked 117th in the App Store’s finance category, while Coinbase occupied the 26th position, according to Sensor Tower data [2]. However, the introduction of the XRP Mastercard catalyzed a dramatic climb for Gemini, propelling it to 16th place, while Coinbase dropped to 20th [2]. Tyler Winklevoss remarked on the momentum, referencing the crypto term “flippening,” which describes a situation where a less dominant cryptocurrency or platform overtakes a more established one [2].

Despite Gemini’s improved App Store ranking, Coinbase still maintains a significantly larger trading volume, with recent data from Messari indicating that Coinbase processes more than three times the daily trading volume of Gemini [2]. Nevertheless, the XRP Mastercard’s feature of offering instant returns in a widely recognized digital asset appears to have played a critical role in attracting new users and increasing app engagement [2].

The launch also had a modest positive effect on the broader market, with XRP rising 2.5% following the announcement [3]. This reflects a growing user preference for crypto platforms that incorporate tangible benefits and innovative services, such as cashback rewards in digital assets [3]. Gemini’s move also highlights the strategic value of partnerships in the crypto industry, as the exchange leveraged its relationships with Ripple and Mastercard to introduce a compelling value proposition.

The competitive landscape among crypto exchanges is intensifying as they seek to differentiate through product innovation and user incentives. Gemini’s rapid ascent in the App Store rankings demonstrates the potential of such strategies to capture attention and market share, even among well-established platforms like Coinbase [2].

Source:

[1] Cointelegraph - https://cointelegraph.com/news/crypto-exchange-gemini-coinbase-app-store-xrp-mastercard

[2] Cointelegraph - https://cointelegraph.com/news/what-happened-in-crypto-today

[3] CoinGecko - https://www.coingecko.com/en/categories/ai-meme-coins