According to Ars Technica, Apple is set to cross the 1 billion app finish line later this week. With the rate of downloads increasing, the data once again reminds us about the explosive popularity of the iPhone platform.

Apple is currently averaging 5.1 million downloads per day. This is quite an increase from the 2.98 million downloads per day for the first 500 million, showing that the App Store’s offerings have indeed increased in popularity. Unsurprisingly, most apps were free downloads, though mobile squared’s data says that the average cost of a paid download is $2.20.

Apple is offering a $10,000 iTunes gift certificate and a ton of great Apple prizes…

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