Crypto apps boom as TRUMP memecoin drives mass adoption
Quick Take Solana’s TRUMP token has sparked a surge in crypto app downloads, led by Phantom jumping 322 spots. The following is an excerpt from The Block’s Data and Insights newsletter.
Crypto-adjacent apps experienced a significant jump in their respective app store rankings following the launch of U.S. President Donald Trump’s official memecoin , Original Trump (TRUMP).
The TRUMP memecoin was launched on the Solana blockchain Friday night, Jan. 17. The coin quickly reached a valuation of $500 million shortly after launch, then skyrocketed to $75 billion in under 36 hours, with nearly $4 billion in volume traded in its main Meteora liquidity pool.
As a spillover effect of this launch, mainly due to the fact that the president of the United States chose Solana as his preferred blockchain network to launch his coin on, the price of SOL also reached a new all-time high after increasing by over 23% at its peak on the same day.
The TRUMP launch has put Solana in the spotlight, with this kind of attention possibly paving the way for more big names or organizations to pick Solana for similar initiatives.
The launch of an official memecoin tied to the U.S. President himself brought a tsunami of attention into the industry, with mass inflows of people rushing to participate. This was most evident in app store rankings of crypto-related apps, which all saw significant jumps in the 24 hours following TRUMP’s launch.
Phantom, the largest crypto wallet for Solana, was ranked 357th on the U.S. app store on Friday, prior to the TRUMP launch. Just three days later, and Phantom has climbed to 35th overall in the U.S. app store.
Moonshot experienced a similar trajectory. It currently ranks No. 1 in the finance category of the U.S. app store, up from 266th in just three days.
While Phantom and Moonshot were immediate winners from the hype and attention surrounding TRUMP, multiple crypto-adjacent apps have also been riding the wave of increased crypto interest in the past week.
Last Sunday, Coinbase ranked 209th in the U.S. app store. Fast-forward a week, and it currently ranks 32nd, highlighting the increased crypto mindshare in recent weeks.
Meanwhile, in the finance sector of the U.S. app store, from Jan. 14 to the time of writing:
- Kraken has climbed from #315 to #97
- Binance.US climbed from #108 to #47
- Uniswap climbed from #49 to #22
- Coinbase wallet from #34 to #10
This is an excerpt from The Block's Data Insights newsletter . Dig into the numbers making up the industry's most thought-provoking trends.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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