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Dogecoin (DOGE) price gained nearly 4% in less than an hour after news surfaced online that Twitter would allow crypto trading.
At the time of writing, Dogecoin was up 7% in the last 24 hours to outperform the top 10 cryptocurrencies by market capitalization in terms of daily gains.
Dogecoin jumped nearly 35% in the past week after Twitter users observed that their home buttons had been changed into the Doge meme. Though the logo has has since changed back to the iconic Twitter blue bird, the latest development represents a boost for Dogecoin and crypto adoption.
BREAKING: Twitter to enable crypto & stock trading in partnership with eToro. @elonmusk pic.twitter.com/F08NyCLYHP
— DogeDesigner (@cb_doge) April 13, 2023
Twitter added pricing data for its "cashtags" feature in December 2022. A Dogecoin Cashtag was also added, to the delight of the community.
Twitter partners with eToro for crypto trading
Through a partnership with social trading platform eToro, Twitter will provide access to stocks, cryptocurrencies and other financial assets for its users.
On the Twitter app, a new feature will go live on Thursday that allows users to watch market charts on a wider variety of financial instruments and buy and sell stocks and other assets via eToro.
Using Twitter's Cashtags feature, it is already possible to observe real-time trading information from TradingView. Twitter Cashtags will now cover a much wider range of securities and asset classes thanks to the partnership.
The feature will allow assets to be viewed on eToro, and users will be able to buy and sell crypto via the platform.
It is Elon Musk's goal to transform Twitter into a so-called "super app," where users would have access to a variety of services such as travel, banking and instant messaging.
Arman Shirinyan
Alex Dovbnya
Vladislav Sopov
Dan Burgin