The cryptocurrency exchange Gemini, founded by the Winklevoss brothers, has surpassed Coinbase in the app store rankings following the launch of a Ripple (XRP) rewards credit card in collaboration with Ripple Labs and Mastercard.
Gemini announced on Monday via X platform that this limited edition metal card offers up to 4% cashback in Ripple (XRP) instantly, with no waiting period for accumulation.
According to Sensor Tower, after the announcement, Gemini has surpassed Coinbase in the U.S. finance category rankings. As of the time of publication, Gemini is ranked 16th, while Coinbase is ranked 20th.
Given that the latest data from Messari shows Coinbase's daily trading volume is more than three times that of Gemini, Gemini's rise in the rankings is considered significant.
Gemini co-founder Tyler Winklevoss stated on Monday via X platform that "the flip is accelerating," and this new milestone has drawn attention from other cryptocurrency market participants on social media.
According to the app store intelligence platform App Tweak, the rankings in the App Store are primarily influenced by factors such as keywords, download volume, user ratings, app performance, and retention rates.
Ripple Labs CEO Brad Garlinghouse posted on X platform on Monday, stating: "The Ripple (XRP) rewards credit card is here. Ripple (XRP) community, this is our moment."
CoinMarketCap data shows that Coinbase ranks third among cryptocurrency exchanges by trading volume, with a trading volume of $4.54 billion in the past 24 hours, while Gemini ranks 24th with $382.49 million.
Just a few weeks ago, Gemini submitted an application to the U.S. Securities and Exchange Commission to list its Class A common stock on the Nasdaq Global Select Market under the ticker symbol GEMI.
According to its filings, this IPO will be the first public trading of its stock, with the pricing range yet to be announced. The offering will be managed by an underwriting group consisting of major banks such as Goldman Sachs, Morgan Stanley, and Citigroup.
Related: Preston Pysh: The skepticism of Bitcoin (BTC) holders towards institutions is hard to dispel.
Original article: “Gemini Surpasses Coinbase in App Store Rankings with the Launch of 'Ripple (XRP) Mastercard'”
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