Trump effect? Crypto apps dominate finance category on Apple’s US App Store

Crypto-related apps have taken over the top spots in the finance category of Apple’s App Store in the United States.

As of Jan. 22, the top three applications in the US App Store’s finance category were all crypto-related. These included digital asset trading platforms Crypto.com, Moonshot and Coinbase.

Top free apps in the finance category of the US App Store. Source: App Figures

Other cryptocurrency apps such as Coinbase Wallet, Robinhood, Binance.US, DEX Screener and Kraken also ranked within the top 30 free apps in the finance category.

Trump memecoin frenzy pushes crypto apps to the top App Store ranks

The surge in crypto app rankings coincided with the launch of President Donald Trump’s Official Trump (TRUMP) memecoin on Jan. 18. Only a few hours after the launch, the token hit a market cap of over $9 billion, peaking at around $14.5 billion before experiencing a correction. The token currently has a market capitalization of $8.3 billion. 

Following the move by the newly inaugurated US president, First Lady Melania Trump also released a self-titled memecoin that captured the attention of investors. The meme token hit a valuation of about $6 billion within two hours of its launch. 

On Jan. 1, the Moonshot app, which allows people to buy memecoins using Apple Pay, was ranked 309th in the US App Store’s finance category. However, just a day after Trump’s memecoin launch, it hit the top spot, signaling a surge in interest in memecoins in the US. 

Ranking data for Moonshot in the App Store’s finance category. Source: App Figures

Similarly, DEX Screener, a tool for monitoring token price action, saw a rise in popularity. It climbed from the 102nd spot on Jan. 1 to 21st by Jan. 20.

Related: Phantom takes second spot in Apple’s US App Store utilities category

Trump’s memecoin could act as a tool to measure public sentiment

In a statement sent to Cointelegraph, Animoca Brands co-founder and executive chairman Yat Siu said the TRUMP memecoin could be used to measure the people’s sentiments toward the Trump administration:

“Its rapid rise in value can be attributed to its novelty and the interest surrounding its launch, particularly among supporters eager to cash in on Trump’s brand. Longer term, the TRUMP coin could act as a barometer for public sentiment toward Trump’s presidency.”

Siu added that the TRUMP memecoin could also be used for philanthropic activities. “Philanthropy could transform a memecoin into a movement with meaningful real-world impact, fostering goodwill and setting a new standard for political engagement in the digital age,” Siu said. 

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