1 hour ago
22
A crypto trading app that launched its public beta barely a year ago is now sitting above Cash App in the US App Store’s finance category. FOMO, the social-first digital asset trading platform built by FOMO Labs Inc., has cracked the top three finance apps on iPhone, leapfrogging Block’s Cash App and prediction market platform Kalshi in the process.
What FOMO actually does
The app’s pitch is straightforward: make crypto trading feel like a social media experience rather than a Bloomberg terminal cosplay session. FOMO supports multi-chain trading across assets including Bitcoin, Ethereum, and Solana, but wraps the whole thing in a layer of social features designed to make the experience less intimidating for newcomers.
Users can see what their friends are trading in real time, follow leaderboards, and access copy trading signals. The onboarding friction that has historically plagued crypto adoption, things like setting up wallets, managing private keys, understanding gas fees, gets abstracted away. Users can fund trades instantly through Apple Pay, which removes perhaps the single biggest barrier between a curious normie and their first token purchase.
The app carries user ratings between 4.6 and 4.8 stars on the App Store.
The numbers behind the climb
By mid-2026, FOMO has accumulated between 470,000 and 625,000 users. Cumulative trading volume sits somewhere in the range of $2.5 billion to $4 billion. For an app that only opened its public beta on May 6, 2025, those figures represent a remarkably steep growth curve.
Why social-first matters
FOMO’s rise fits into a broader pattern that has been building across fintech for years. Robinhood proved that gamification could pull millions of retail investors into equities. Coinbase proved that simplified interfaces could pull millions into crypto. FOMO is betting that the next unlock is making trading feel like a group activity rather than a solitary one.
The social layer isn’t just cosmetic. Copy trading, where users can mirror the trades of more experienced participants, has been a proven growth driver on platforms like eToro. FOMO’s implementation of similar mechanics inside a mobile-native crypto app gives newer users a way to participate without needing to develop their own trading thesis from scratch.
What this means for the competitive landscape
FOMO’s ascent puts pressure on several fronts. Cash App already offers Bitcoin trading, but it’s a feature inside a broader payments app, not the core identity. For Coinbase, the implications are more nuanced. Coinbase has traditionally served as the on-ramp of choice for US retail crypto buyers, but its mobile experience skews more toward utility than engagement. PayPal and Venmo face similar strategic questions. Both have added crypto buying and selling in recent years, but neither has built the kind of community-driven trading experience that appears to be driving FOMO’s growth.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
English (US) ·