Crypto's 'Black Friday' saw uptick in Coinbase's Apple App Store rank

The market event known as 'Black Friday' saw steep declines in the price of bitcoin, but at least one metric saw a noticeable rise: the Apple App Store rank for Coinbase's trading app.

As noted by The Block's Steven Zheng, one day after Black Thursday, Coinbase's ranking spiked more than 40%, reaching rank 383 on the Apple App Store.

As to precisely why this occurred, one possible explanation is that Coinbase's app saw increased download or redownload activity during the market turbulence.

In a blog post published on March 30, Coinbase offered its perspective on the mid-March market event. Coinbase said it saw a two-times increase in new user signups and a three-times increase in trading users, among other boosted metrics, "in the 48 hours during and immediately following the drop."