Twitter partnership boosts eToro’s popularity on Apple’s App Store, for a day
EToro’s popularity on Apple’s App Store got a brief boost last week after announcing a partnership with Twitter, but like the rush of a tweet gone almost viral, the jolt was short-lived.
Last week, the company announced a “$Cashtags” partnership with Twitter that enables the social network’s users to see real-time prices for a wide range of stocks, crypto and other assets, as well as offering the option to invest through eToro.
After the April 13 announcement, eToro went from being the 404th most popular app in the finance category on the App Store in the U.S. to 221st. At either level, that’s still the least popular among crypto apps tracked by The Block Research. The app has since fallen back to around 327th place.
In its defense, eToro said it’s not a crypto app.
“We are a multi-asset broker that offers crypto but also stocks, ETFs etc across more than 100 countries,” a spokesperson said in an email to The Block, clarifying what it is.
The most popular crypto apps
Cash App is the most popular crypto app in the finance category on the App Store in the U.S. as tracked by The Block Research, followed by Coinbase and Binance.
The competition for crypto customers is high as the amounts being traded on exchanges has dropped since peaking at $4.25 trillion in 2021. Last month, that figure didn’t crack $1 billion, according to data tracked by The Block Research.
Coinbase, the only publicly-traded exchange, reported fourth quarter revenue of $605 million in 2022, compared to nearly $2.5 billion a year earlier. Shares of the company have tumbled by about half over the past 12 months.
