eToro and Twitter Partnership
According to reports, stock trading is shifting toward the social media network Twitter and the cryptocurrency industry. These reports are now dominating the news as Twitter announces its cooperation with the trading software eToro.
The move is heavily influenced by the company’s CEO’s desire to transform his company into an “everything app.” As a result of the new partnership, users may now access eToro’s market charts for a variety of financial assets by searching for the correct “cashtag,” which is normally represented by adding a “$” sign in front of the ticker, such as “$TSLA” for Tesla stock.
The issue of the New Partnership
Reports have surfaced that the integration would also include cryptocurrencies, such as Bitcoin, Ethereum, and Dogecoin however, the social media giant has yet to deliver as nothing appears when searching for a variety of crypto cashtags on the platform.
The asset’s 24-hour price performance was also seen on a chart, and a link that reads “View on eToro” was visible, allowing users to access more detailed market data and buy the asset as well as other assets offered by the site.
An eToro representative emerged in light of this anticipated problem and indicated through email that they are experiencing the identical problem as the one being mentioned regarding searching the BTC cashtag.
The representative went on to say that they are checking the problem with Twitter right now and are hopeful that it will be fixed quickly. However, Twitter has not yet commented on the aforementioned issue.
Dogecoin Pumps After The Announcement
Even before he bought the social media site, Twitter CEO Elon Musk was a longtime supporter of cryptocurrencies. It’s important to note that his tweets boosting his preferred cryptocurrency Dogecoin enabled it to hit its record-breaking high of $0.73 in May 2021.
The CEO’s preferred cryptocurrency was seen to have increased significantly hours after the news of the partnership with eToro broke. An hour after Musk replaced the recognizable blue bird emblem on the social media platform with a photo of Doge, the Shiba Inu who created the meme that served as the inspiration for the coin, Dogecoin was also seen to increase by 20% at the beginning of last week.
His passion for cryptocurrencies, which is currently evident, may be traced back to his $1.5 billion purchase of Bitcoin in February 2021. Tesla sold roughly 75% of its war fund just by the end of June of last year and is hoarding the rest. Additionally, Musk has frequently hinted that he wants to integrate banking and cryptocurrencies into the network since he successfully acquired Twitter.
