In recent days, two shopping apps have climbed to the top of the Apple App Store rankings. As of Friday’s post, Robinhood is ranked # 1, while Coinbase is # 2. Third: the popular social network TikTok. YouTube, Instagram and Snapchat came in fourth, fifth, and sixth place, respectively.
One potential takeaway is that people are now more interested in exchanging cryptocurrencies and financial assets than interacting on various social media platforms – a conclusion CNBC pointed out in its Friday article.
Robinhood received widespread coverage in January when the company stopped buying GameStop stock. The decision came after the asset’s price hike along with the Reddit subreddit activity known as r / Wallstreetbets.
The Coinbase app that ranked second has also become popular this year, especially in recent weeks in anticipation of a direct listing. Conversations spiked when the stock, the COIN bar, was listed on the Nasdaq on Wednesday.
Cryptocurrencies and stocks mostly entered the retail trade after their March 2020 crash. As a result of this event, markets recovered and cryptocurrency markets continued to reach new highs. Since then, the bitcoin price has more than tripled, reaching a record high since 2017.