Social Trading Apps Set to Supplant Traditional Exchanges
Ran Neuner, founder and CEO of Crypto Banter, claims that social trading apps will eventually replace traditional cryptocurrency exchanges like Binance. He points to FOMO as a model for these new types of platforms.
Neuner believes that tokenized stocks, which can be traded 24/7, will play a key role in the shift from exchanges to social trading apps. This is because brokers like Robinhood and eToro have already tried social trading with limited success due to Nasdaq trading hours and know-your-customer rules.
The SEC recently granted an exemption for onchain trading of tokenized shares, allowing them to trade 24/7 without restrictions. Neuner cites the success of apps like Hyperliquid and Pump.fun, which earn millions of dollars in revenue each day, as evidence that social trading is a viable alternative to traditional exchanges.