New statistics show that trading apps have been the top most downloaded on Apple’s app store, overtaking TikTok, which formerly championed the list. The two top trading apps above TikTok are Robinhood and Coinbase. This shows that the digital asset world is going global as many new people grow interested in trading digital assets and stocks.
New demands for investments could mean that the world is more interested in assets than social media, which formerly topped most downloaded apps. The data was released on Friday, and Robinhood topped the list. Third on the list is TikTok, a popular social media app for sharing videos amongst users.
People becoming interested in trading
People might be shifting their interests into assets and investments. Social media platforms have gone below the list, as YouTube and Instagram are fourth and fifth on the list, respectively.
CNCB explained that this sudden change means that people are interested in financial assets than media platforms, mainly due to the popularity of some assets like cryptocurrencies, which are very popular amongst the younger generation. Despite Robinhood’s controversial front, the online brokerage company has been attracting new downloads since 2021.
The company received backlash on social media to restrict the trading of some stocks, such as GameStop. The sudden rise of the game company was due to an alleged conspiracy between Reddit traders who had increased the stock price to win a bet against wall street investors.
The second on the list is Coinbase, one of America’s most prominent exchanges in huge downloads. The firm has been on the news for the past few days because it recently went public, and it’s now a public company. The firm became a public company through a direct listing, and it is now called COIN under Nasdaq.
Global pandemic influences crypto trading
Despite things being hard for digital assets and cryptos, especially since the early 2020 crash, which affected businesses and investments due to COVID-19. Countries have found ways to combat the problems, and normalcy is returning. Interestingly, stocks and digital assets have increasingly skyrocketed in the past few days due to the global interests associated with the assets.
The investments have gained at an amazing rate, with Bitcoin being one of the best performers. The most popular digital asset has grown in value over the years, and it currently worth $60,000 for one. This has enriched businesses associated with the investments and traders who have been holding the assets since the earlier years.
Experts believe that the global pandemic could have influenced people’s interest in digital assets as people have found more ways to make money than going out to reduce the spread of the virus.
This has caused institutional investors to shift interests to Bitcoin and other cryptocurrencies as some are actively reducing their gold exposure due to the yellow metal’s current situation. Gold, one of the most preferred assets, has been having some declines in the last few days, and analysts explain that increased supply could affect demand.