The majority of asset management applications downloaded in the first 6 months of 2021 were cryptocurrency applications, accounting for 51 percent of the top 50 most installed asset management applications. In the meantime, in the first half of 2021, the top stock trading applications decreased to 43%.

According to SensorTower, a market intelligence firm for worldwide applications, stock trading applications used to continuously account for the largest percentage of the U.S. market downloads inside the top 50 asset management applications, accounting for 68-71 percent of all downloads.

However, as demand in digital currencies such as Bitcoin has grown, cryptocurrency applications have risen to the number one spot. The extreme fluctuation of the cryptocurrency, as well as the entry of big institutions, has attracted many speculative investors.

Crypto Accounted For

The Covid-19 pandemic resulted in a massive stock market meltdown, with many companies falling to new lows, and also a rise in individuals being confined to their homes, giving them more opportunity to look into crypto assets. Both of these factors worked together to increase the number of cryptocurrency app installations.

For many retail investors, cryptocurrency applications are a fantastic tool since they typically include investment management features. People can buy digital assets and consolidate their portfolios. Stock applications are also prevalent since some of them do not charge commissions.

Cryptocurrency Apps Development: Exchange, Wallet, or Tracker for You

While no restrictions for digital currencies are in effect in the United States, demand is expected to continue to rise.

From Q2 2020 to Q2 2021, the quarterly downloads of the top 50 asset management applications in the United States increased by 152 percent on both Android and iOS, according to Finbold.

Asset management applications were downloaded 18 million times on the Apple App Store and 15 million times on the Android Google Play store in the second quarter of 2021.

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