Two trading apps have risen to the top positions on the Apple App Store in recent days. Robinhood holds the number one position, with Coinbase at second, at the time of reporting on Friday. At the third position: popular social media platform TikTok. YouTube, Instagram, and Snapchat hold the fourth, fifth, and sixth positions, respectively.
One possible conclusion is that people are now more curious about swapping cryptocurrencies and financial assets than they’re in interacting on various social media platforms – a conclusion noted by CNBC within an official report earlier on Friday.
Robinhood saw significant coverage earlier in January when the firm halted purchases of GameStop stock. The decision to halt trading came after the asset’s price spiked in tandem with activity from a Reddit subreddit referred to as r/Wallstreetbets.
Second-place app Coinbase has also hit many headlines this year, especially in recent weeks in anticipation of its direct stock listing. Chatter rose as the stock, beneath the ticker COIN, was listed on Nasdaq recently on Wednesday.
Crypto assets, as well as stocks, largely entered the retail spotlight after they both crashed earlier in March last year. Emerging from the event, both markets posted recoveries, with the crypto markets going on to touch in new all-time highs. Bitcoin’s price has since over tripled its record high since 2017.