Coinbase benefited from the hype around Shiba Inu
The largest U.S. exchange has significantly benefited from the popularity of the cryptocurrency Shiba Inu, which recently hit another all-time high of $0.00008616. There was even a temporary downtime recently, reportedly due to its popularity. One of the most notable ways Coinbase was able to capitalize on this was by including the SHIB ticker in the name of its app alongside Bitcoin (BTC) and Ether (ETH).The daily trading volume of Shiba's Inu reached $5.1 billion on the exchange, which is about five times higher than Bitcoin and Ether, and the token itself has risen into the top 10 in market capitalization, currently sitting at #9 with a market cap of $37 billion.
Not the first time for Coinbase
It is not the first time Coinbase has been the most popular app in the Apple App Store. In early May, during the Dogecoin craze, the exchange took the top spot. This also happened just a few weeks after the exchange listed on Nasdaq.Continue reading by joining Cryptonary Pro
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