Coinbase's surge in app download ranking could hint at return of retail investors

A surge in Coinbase's app download ranking on the U.S. Apple App Store has sparked some to speculate that retail investors are actively returning to the crypto market, Cointelegraph reported. As per Sensor Tower data, Coinbase has zoomed from 386th to 137th in app download ranking over the past month. Cointelegraph had previously reported in September last year that the number of Coinbase app downloads typically correlates with price performance. In general, during the previous bull run peaks, Coinbase always entered the top 175 positions in app download ranking, while positions below 500 usually correspond to bear runs.