Twitter came up with a new partnership. This partnership with eToro will enable users to trade stocks and cryptocurrencies. A new feature will be available in the Twitter app from Thursday. According to the company’s statement, this feature will allow users to view market charts on an expanded range of financial instruments and to buy and sell stocks and other assets from eToro. After this development, the price of Dogecoin (DOGE) did not go unnoticed. Here are the details…
Twitter’s move raises DOGE price
In the past few minutes, Twitter has come to the fore with a new move. The social media platform will form a new partnership with eToro, allowing users to view market charts and trade stocks and crypto. According to a CNBC article published on Thursday, Twitter will offer features that will allow users to trade stocks, crypto and other assets.
The deal comes as part of Elon Musk’s plan to make the Twitter app a “super app.” cryptocoin.com As we also reported, Musk bought Twitter last year for $44 billion. As a result of this breaking news about the Twitter move, the price of Dogecoin jumped. The coin rose from $0.081 to $0.085 and recorded a daily high. DOGE’s local peak is also clearly visible in the chart below.
Effective from today
This feature will be available in the Twitter app from Thursday. According to CNBC, this feature will allow users to view market charts on an expanded range of financial instruments and trade stocks and other assets from eToro. Currently, it is already possible to view real-time trading data on the stocks of some companies such as Tesla and index funds such as the S&P 500 from TradingView. This can be done using Twitter’s “cashtag” feature. If you search for a ticker and prefix it with a dollar sign, then the app will show you the price information from TradingView using an API (application programming interface).
According to an eToro spokesperson, the eToro partnership will expand Twitter cashtags to include even more investment vehicles and asset classes. You will also be able to click on an option that says “view on eToro” which redirects users to eToro’s site and then buy and sell assets on the platform. EToro uses TradingView as its market data partner. “As we have grown tremendously over the past three years, we have seen more and more of our users engage on Twitter and educate themselves about the markets,” said Yoni Assia, CEO of eToro.
There is very high quality and real-time content about the financial analysis of companies and what is happening in the world. This partnership will enable us to reach these new audiences. [ve] We believe it will enable us to better connect the Twitter and eToro brands.
An important deal for Twitter
The partnership marks a rare and notable business deal for Twitter since Elon Musk took the reins as CEO after buying the platform for $44 billion last year. Founded in Israel in 2007, eToro is an online brokerage firm that allows users to buy and sell stocks, cryptocurrencies and index funds. Among its most popular features is a function that allows people to emulate other users’ trading strategies. Assia said the company has more than 32 million registered users in Europe, Asia and the United States.
Assia said she had no direct contact with Musk. However, after meeting Warren Buffett and Bernard Arnault, who are among the richest in the world, she joked that it was inevitable to meet with Musk. “Fintwit,” or financial Twitter, has become a popular trend in the app many people use to find breaking news and updates on stocks and other assets, Assia said. Twitter was a key platform involved in the boom in retail commerce in 2021.
Twitter added pricing data for Cashtags in December 2022. Since the beginning of 2023, more than 420 million searches have been made for Cashtags, with an average of 4.7 million searches per day. Meanwhile, Musk, who came to the fore with his DOGE admiration, made it his mission to turn Twitter into an application called a “super application”.
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