Beware, social media: financial apps are becoming an increasingly popular form of entertainment on people’s mobile phones. Trading platforms Robinhood and Coinbase were among the top two on Apple’s App Store this week as Americans began turning their attention to the equity and crypto markets.
Robin is not emotional. According to the data from the sensor tower, 1 point on Friday, followed by Crypto Trading Platform Coinbase. Tiktok is the third place. Since Coinbase debuted at Nasdaq on Wednesday, the surge in flooding is debuted in Nasdaq, while Bitcoin rose 64,000.
The rise in popularity highlights the epidemic and the rise of retail transactions like GameStop in the culture of “memetic stocks.” After a group of merchants on Reddit triggered a brief historic squeeze, the video game retailer became a household name in January.
Generally, social media and entertainment options (such as TikTok, Reddit, and Instagram) are the most popular applications. The rating reflects the download impulse of an application, not necessarily the total accumulated downloads.
This is not the first place in Robin. In January, at Gamestop’s highly dispute, brokerage company is the most popular app in the Apple and Google App Store. The Webull of another trading app is second. COINBASE, SQUARE’s cash applications, and fidelity have also achieved the top 10.
Robinhood closed purchases of certain stocks when the GameStop frenzy peaked, but social media responded and its CEO was later called in to testify before Congress. But according to JMP Securities estimates, Robinhood still estimates that it has added 3 million clients in January alone.
Venture capitalists pay close attention to participation and the number of downloads. Until recently, these metrics were used primarily to measure the success of social media applications. Robinhood investors are now using similar indicators. He was able to raise $ 3 billion in funding in a few days in January, with investors telling CNBC that this was due to his astonishing performance in handling public relations and regulatory crises.
Charles Schwab (Charles Schwab) said on Thursday that he added a record 3.2 million new customers in the first quarter, an increase overall of 2020.. “