According to BlockBeats, on September 1st, Ryan Watkins, co-founder of Syncracy Capital, stated that social trading apps will integrate market data, public trading records, discussions, and trade execution features. In the future, we may see individual traders showcasing nine-figure trading results, users with highly followed profit and loss leaderboards, and online groups managing large sums of money. The next Roaring Kitty may emerge through a social trading app.
Data shows that in the week ending August 24, the weekly transaction volume of social trading apps approached $1.3 billion. Fomo and Pump's daily active users are approaching those of Polymarket, Hyperliquid, and Phantom, ranging from 60,000 to 100,000 respectively.