Twitter Strikes eToro Deal to Enable Crypto Trading In-App

Twitter rolls out new crypto features in partnership with eToro, the global trading platform with over 32 million users.

Three hands emerging from the grass holding the Rock sign as a horned blue bird is welcoming eToro.
  • Twitter announces partnership with the eToro trading platform.
  • The built-in exchange options are set to go live on Thursday.
  • Dogecoin’s market price shoots up 5.25% following the news.

The extravagant billionaire Elon Musk is keeping his promise to turn Twitter into an all-in-one app with its latest partnership. The financial push, powered by eToro, will provide Twitter users with extensive financial tools to research the crypto markets and buy digital assets on the social platform via eToro’s plugins.

The Journey to X Has Begun

The move comes just a day after Elon Musk posted ‘X’ on Twitter, leaving many fans wondering what the Dogefather meant by the single-character tweet. According to earlier statements, ‘X’ will be the name of the all-in-one app to which Twitter is slowly but surely transitioning to.

As many crypto enthusiasts have noticed, Twitter added cashtags for Bitcoin (BTC) and Ethereum (ETH) a few months ago. According to the latest interview for CNBC, the cashtags will be significantly expanded by eToro to include real-time financial data from different asset classes. 

Dogecoin Looking for a Breakout

Meanwhile, Elon Musk’s beloved Dogecoin inked 5.25% in the green right after the news was made public. At press time, the #8 ranked memecurrency is changing hands at $0.087, according to CoinGecko.

Dogecoin managed to jump on the bullish divergence wave to stay above the key support levels of $0.08, but the on-chain signals indicate a sharp decline in Bid-Ask Volume, Large Transactions and holders In The Money, according to IntoTheBlock.

Ultimately, DOGE might be looking to reach the $0.10 price range if the bullish trend persists, but a drop below the $0.08 support line could result in a full reversal of this month’s gains.

On the Flipside

  • The micro-blogging platform’s switch to a more financial direction doesn’t stop at crypto.
  • The built-in exchange service also supports stocks and index funds tracked by S&P 500.

Why You Should Care

eToro is a major trading platform that counts over 32 million users worldwide.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.