Key takeaways:
- Through a new agreement with eToro, Twitter will now allow users to watch market charts and buy and sell equities as well as cryptocurrency.
- Elon Musk wants to transform Twitter into a multipurpose super app.
For the purpose of displaying real-time stock and cryptocurrency price information, Twitter has teamed with the investment site eToro. This builds on the social network’s Cashtag function, which uses TradingView data to provide information about a select few stocks and cryptocurrency coins.
Users may now see market charts on a variety of financial investments through a new relationship with eToro by searching for the appropriate “cashtag,” which is typically found by adding a “$” mark in front of the ticker, such as “$TSLA” for Tesla stock.
On Thursday, April 13, eToro was the first to release this news. With this, Musk transforms Twitter from a purely social networking site to a multifunctional tool that puts greater emphasis upon usability.
Elon Musk, the twitter-DAD , has never shied away from controversies. Musk said in a recent interview that the firm now only has 1,500 workers, that most advertisers had returned to Twitter, and that it will become cashflow positive “within months.” He added that his dog is now the CEO of Twitter, hopefully in jest.
Musk had big plans for the app after buying Twitter last year, which included making it a super app that can do everything. He has advocated for the use of a single app to provide services including decentralised social networking, micropayments, gaming, food delivery, ride-sharing, and retail.
In December, Musk claimed that TradingView data on Cashtags was “one of the many product enhancements for financial Twitter.”
The new collaboration with eToro involves more than just information display. Additionally, it connects users to the eToro website, where they can trade. A button labelled “View on eToro” that links you to the website can be found when you search for a stock on Twitter.
Twitter users could previously get real-time trading information via the markets charting platform TradingView, but only for a limited number of assets, including the S&P 500 index and shares of certain corporations, including Tesla.
They can now click through to eToro’s platform to view details about the asset and an additional investment choice.
