Bitcoin Rally Leads to Crypto App Growth

Bitcoin recently made a stunning rally that has seen its price surge to record heights As a result of the fact that this is the case, crypto trading apps have also made a surging comeback, with countless people around the world hoping to get in on what appears to be another amazing bull run. recently released some data about the rally in crypto apps that coincided with Bitcoin hitting the staggering price of $69,000 which sheds some light on the matter at hand.

Image: Coingecko

The truth of the situation is that trading apps saw a steady increase in usage when Bitcoin started to creep up in value. This growth didn’t really extend to apps like PayPal, Venmo or Cash App, even though they offer Bitcoin compatibility. They remained fairly stable in their usage, but other apps saw a major boost on the heels of this value increase.

With all of that having been said and now out of the way, it is important to note that Robin Hood is just one of the many apps that went on an upward trajectory. It was the 18th most downloaded finance app on the 26th of February, but by the 5th of March it had risen to the top three in that category and on 10th March it is back to 13th position in US iOS store ranking.

It bears mentioning that Robin Hood is offering Bitcoin ETFs because of the fact that this is the sort of thing that could potentially end up allowing retail investors to participated in the crypto craze. It also reached 54th place in general rankings, which is a considerable uptick from the 172nd place that it was at prior to the current bull run.
It’s not just trading apps that are seeing a lot of forward momentum either with all things having been considered and taken into account. Apps that provide data for cryptocurrencies in some way, shape or form such as CoinMarketCap also saw growth, with this app jumping from 189th place to 68th in the category of finance apps.

It will be interesting to see where things go from here on out, since a number of apps that avoided Bitcoin are not seeing much progress which might seem like a missed opportunity.

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