{"id":18863,"date":"2024-05-24T16:12:25","date_gmt":"2024-05-24T16:12:25","guid":{"rendered":"https:\/\/apptopia.com\/en\/insights\/trading-apps-surge-coinbase-growth-sustaining-coin-hood-sq-afrm-sofi\/"},"modified":"2024-05-24T16:12:25","modified_gmt":"2024-05-24T16:12:25","slug":"trading-apps-surge-coinbase-growth-sustaining-coin-hood-sq-afrm-sofi","status":"publish","type":"insight","link":"https:\/\/apptopia.com\/en\/insights\/trading-apps-surge-coinbase-growth-sustaining-coin-hood-sq-afrm-sofi\/","title":{"rendered":"Trading apps surge, Coinbase growth sustaining &#8211; COIN | HOOD | SQ | AFRM | SOFI"},"content":{"rendered":"\n<p><em>This was first published May 23, in our weekly newsletter\u00a0Apptopia Insight. To receive insights like this weekly, sign up\u00a0<a href=\"https:\/\/learn.apptopia.com\/newsletter\/\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>.<\/em><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Coinbase (COIN) &#8211;<\/strong>\u00a0Coinbase downloads are accelerating in May, picking back up after strong trends in 1Q. Download growth accelerated to +162% YoY in the most recent week, up from ~60% in April.\u00a0<strong><em>Coinbase downloads continue to trend up through 5\/22<\/em><\/strong>, while Robinhood\u2019s downloads peaked on 5\/17 (now ~40% below that).<\/li>\n\n\n\n<li><strong>Robinhood (HOOD) &#8211;\u00a0<\/strong>The return of meme-stock interest drove consumers to the Robinhood app, with downloads spiking to +143% YoY in the most recent week &#8211; though downloads have fallen off from peak.<\/li>\n\n\n\n<li><strong>SQ\/AFRM\/SOFI &#8211;<\/strong>\u00a0Other fintech apps are not seeing the same surge &#8211; payment apps are weak and slowing with Cash app downloads -15% YoY and Affirm -10% YoY. SoFi downloads are solid (+36% YoY in May) but growth is slowing from 1Q.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"671\" src=\"https:\/\/apptopia.com\/en\/wp-content\/uploads\/2024\/05\/image-10-1024x671.png\" alt=\"\" class=\"wp-image-2782\" srcset=\"https:\/\/apptopia.com\/en\/wp-content\/uploads\/2024\/05\/image-10-1024x671.png 1024w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2024\/05\/image-10-300x197.png 300w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2024\/05\/image-10-768x503.png 768w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2024\/05\/image-10.png 1120w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Fintech apps are surging again in May, with both COIN and HOOD downloads jumping up over +140% YoY in the most recent week. This picks back up on strong trends in recent months with both apps posting solid growth in 1Q.&nbsp;&nbsp;<\/p>\n\n\n\n<p>While both apps are showing strong growth, we note that Coinbase\u2019s trends look more sustainable while Robinhood\u2019s look more like a spike hand-in-hand with meme-stock trading.&nbsp;<em>Coinbase downloads continue to trend up through 5\/22<\/em>, while Robinhood\u2019s downloads peaked on 5\/17 (now ~40% below that).&nbsp;<\/p>\n\n\n\n<p>Coinbase app usage is related to Bitcoin prices &#8211; when Bitcoin prices increase, app usage increases.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"592\" src=\"https:\/\/apptopia.com\/en\/wp-content\/uploads\/2024\/05\/image-11-1024x592.png\" alt=\"\" class=\"wp-image-2783\" srcset=\"https:\/\/apptopia.com\/en\/wp-content\/uploads\/2024\/05\/image-11-1024x592.png 1024w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2024\/05\/image-11-300x174.png 300w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2024\/05\/image-11-768x444.png 768w, https:\/\/apptopia.com\/en\/wp-content\/uploads\/2024\/05\/image-11.png 1120w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>Outside of trading\/crypto apps, fintech apps are not seeing the same surge in usage. Payment apps are weak &#8211; with Cash App downloads -15% YoY in the most recent week and Venmo downloads down 20%. BNPL also looks weak with Affirm, downloads down 10% YoY in May and trending lower. SoFi continues to grow year-over-year (+30% YoY in May) but growth is slowing from 1Q.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Questions on the underlying data included in this analysis?<\/h2>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/engage.apptopia.com\/custom-research-request\" target=\"_blank\" rel=\"noreferrer noopener\">Data request<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>This was first published May 23, in our weekly newsletter\u00a0Apptopia Insight. To receive insights like this weekly, sign up\u00a0here. Fintech apps are surging again in May, with both COIN and HOOD downloads jumping up over +140% YoY in the most recent week. This picks back up on strong trends in recent months with both apps [&hellip;]<\/p>\n","protected":false},"author":21,"featured_media":2784,"comment_status":"open","ping_status":"open","template":"","insight_category":[213,86],"insight_tag":[235,233,236],"class_list":["post-18863","insight","type-insight","status-publish","has-post-thumbnail","hentry","insight_category-app-economy","insight_category-fintech","insight_tag-digital-transformation","insight_tag-macro-trends","insight_tag-mobile-channel-check"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trading apps surge, Coinbase growth sustaining - COIN | HOOD | SQ | AFRM | SOFI - Apptopia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/apptopia.com\/en\/insights\/trading-apps-surge-coinbase-growth-sustaining-coin-hood-sq-afrm-sofi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trading apps surge, Coinbase growth sustaining - COIN | HOOD | SQ | AFRM | SOFI - Apptopia\" \/>\n<meta property=\"og:description\" content=\"This was first published May 23, in our weekly newsletter\u00a0Apptopia Insight. 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