"It's long been a cryptocurrency maxim that Coinbase's (COIN) ranking in app store downloads signals how much retail traders are participating in a bull market. Well, the bull run's here, and Coinbase isn't climbing charts like it used to. Instead, Phantom, a harder-to-use crypto wallet, has leapfrogged the better-known centralized exchange. At press time, Phantom was in seventh place among free applications - between Temu and Google - on Apple's U.S. App Store, well ahead of Coinbase at 27th."
"While the bitcoin community in particular has always emphasized "being your own bank," other parts of the cryptoverse, like Coinbase, have bet on a more accessible experience. Memecoin mania is blowing that up. Coinbase and other established exchanges don't list the bottom-of-the-barrel, hours-old, exceptionally risky yet sometimes tremendously lucrative (if you don't lose your shirt, as most do) joke tokens that new traders want to bet on. To get those, they gotta go on-chain with something like Phantom."
"To get those, they gotta go on-chain with something like Phantom. "Traditional centralized exchanges can't keep up with all of the new on-chain paradigms fast enough," said Phantom CEO Brandon Millman in an email. In the past week, one memecoin in particular, Chill Guy, caught plenty of attention on TikTok and even more bids on-chain. Bolstered by a coordinated social media marketing campaign, CHILLGUY - whose mascot is, well, a chill-looking dog - soared in days from a marke"
Phantom, a decentralized crypto wallet, surpassed Coinbase in Apple App Store free-download rankings as retail traders pursue memecoins. TikTok content is guiding users through on-chain wallets that require more technical steps than centralized exchanges. Many centralized platforms do not list extremely new, high-risk memecoins, pushing users to on-chain tools to access those tokens. Memecoin marketing campaigns have driven dramatic, short-term price moves and strong on-chain trading activity. Phantom's growth reflects a shift toward self-custody and rapid on-chain experimentation that centralized exchanges struggle to match with current listing and infrastructure processes.
Read at Coindesk
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