Trading apps spoof TikTok in popularity

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Two trading apps have climbed to the top of Apple’s App Store in recent days. Robinhood is in number one, with Coinbase in number two, at the time of publication on Friday. Third: the popular social media platform TikTok. YouTube, Instagram and Snapchat occupy the fourth, fifth and sixth positions respectively.

A possible conclusion? People are now more interested in trading crypto and financial assets than interacting on various social media platforms – a finding noted by TBEN in a Friday post.

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Robinhood received significant coverage in January when the company halted purchases of GameStop shares. The move came after the asset’s price soared in tandem with the activity of a Reddit group known as Wallstreetbets.

The second-place app Coinbase has also made headlines this year, especially in recent weeks ahead of its direct listing on the exchange. The chatter increased as the stock, under the ticker COIN, was listed on the Nasdaq on Wednesday.

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Both crypto and stocks entered the retail spotlight widely after their collapse in March 2020. Following the event, both markets recorded rallies, with crypto markets reaching new all-time highs . The price of Bitcoin has since more than tripled its high of 2017.