Two trading apps have risen to the top of Apple’s App Store in recent days. Robinhood holds the number one position, with Coinbase in second place, at the time of publication on Friday. In third place: popular social media platform TikTok. YouTube, Instagram and Snapchat are in fourth, fifth and sixth place respectively.
A possible conclusion? People are now more interested in trading crypto and financial assets than interacting on various social media platforms – a conclusion CNBC noted in an article on Friday.
Robinhood saw significant coverage in January when the company halted purchases for GameStop stock. The decision came after the asset’s price rose in conjunction with the activity of a Reddit group known as Wallstreetbets.
The second-place app Coinbase has also made a lot of headlines this year, especially in recent weeks in anticipation of its immediate stock listing. Chatter rose when the stock, under the ticker COIN, was listed by Nasdaq on Wednesday.
Crypto and stocks largely came into the spotlight of the retail industry after they both crashed in March 2020. Both markets showed a recovery, with the crypto markets hitting new all-time highs. The price of Bitcoin has since more than tripled from 2017.