Fomo Takes Crypto by Storm, Grayscale Predicts Rotation From Stocks, and More – Weekly Recap

Key Takeaways

• Fomo hit the top 5 U.S. finance apps, signaling strong demand for social crypto trading.
• CLARITY Act faces a Sept. 15 Senate test, with prediction markets pricing in failure.
• ZEC surged 87% in 30 days as a 153M-license leak intensified the crypto privacy debate.

WEEK IN REVIEW

FOMO Cracks Top 5 US Finance Charts, Passes Kalshi and Cash App

Fomo, the social crypto trading app built for Robinhood Chain and other networks, has climbed into the top five U.S. finance apps on Apple’s App Store…

Editor’s comment:

While it may be the epitome of extractiveness and a PVP-style arena, it looks like Fomo has found product market fit in the memecoin/social trading space. This is something that several other well funded companies failed to achieve in the past. Whether the money from the fomo arena flows out to raise other boats remains to be seen.

Grayscale Sees Crypto Opportunity as Stock Concentration Soars

Grayscale says record U.S. household equity exposure and demanding stock valuations strengthen the case for crypto diversification.

Editor’s comment:

While a “rotation” from equities into crypto has been predicted many times and failed to come true, it’s worth noting that there has been a significant decoupling of Bitcoin from the Nasdaq. It could perhaps be the beginning of a longer trend.