Twitter has increased the number of crypto tokens in its Crypto Price Index feature known as the $Cashtags. The social media platform launched the feature in 2012 without adding crypto. However, on December 21, 2022, Twitter added 30 tokens to $Cashtags.
The Twitter $Cashtags is very helpful for crypto users, traders, and other participants of the Twitter app. Twitter monitors crypto market data and sends them to users on the platform through the $Cashtags feature.
The Functions of the $Cashtags Feature
The function of the $Cashtag feature is similar to the conventional use of hashtags. The latter presents users with the current happenings in almost all sectors globally. It monitors trending and popular ideas, news, items, etc., worldwide from several platforms.
Before now, Twitter would not provide you details about a current value of a stock or crypto asset. Users have to separately visit the website of the stock or crypto token to learn such information. However, $Cashtags have updated such search results to give you more information about a token or stock.
The $cashtag feature has a dollar sign ($) before the symbol of a stock or digital asset such as $BTC. This will form a clickable link for the symbol attached to it. The link provides users with direct access to an asset’s price page.
Twitter Adds More Crypto Tokens, Including Dogecoin
Twitter users have been expressing excitement about crypto's additions to the platform. Users can get more information and price trends of crypto tokens through the app. Some of the tokens available now include BTC, ETH, LTC, XRP, SOL, DOGE, BUSD, UNI, DOT, USDC, LIDO, SHIB, BCH, ADA, SAND, XLM, BNB, AVAX, OKD, TRX, etc. During its update, Twitter added the top 20 cryptocurrencies by market cap to the feature.
The new CEO of Twitter, Elon Musk, is a strong proponent of the leading meme coin, Dogecoin. With the Twitter $Cashtags feature launch in December last year, the company added just Bitcoin and Ether. It included the live charts of these two largest crypto tokens, leaving out Dogecoin.
This move disappointed some DOGE fans, then. However, the meme coin has finally joined the train of the $Cashtags feature. Some members of the DOGE community are grateful for the addition of $DOGE to the Twitter Crypto Price Index feature. This will allow users to access the price details of their favorite crypto tokens easily.
Also, TradingView supports the price information through the $Cashtags on the platform. It provides supporting price charts for users as well.
The Twitter update in December 2022 created an improvement in its Search Results for Cashtags. Users now have access to real-time price graphs. With time, Twitter plans to include a link on the price charts to the Robinhood trading platform. But at the time of writing, there’s no proof indicating that Twitter has a formal agreement on partnering with Robinhood.
Also, the Twitter development team aims to add more crypto tokens to the Price Index feature on the platform. However, the company is yet to disclose when users could see more additions to the $Cashtags feature.
Musk's Leadership on Twitter Increases Crypto Updates on the Platform
The famous business magnate, Elon Musk, acquired Twitter in 2022 for $44 billion. The billionaire initiated the acquisition move in April 2022 and completed it in October same year. Currently, Musk is the face of the new Twitter 2.0.
The acquisition process had several hitches. Musk stated his plan to cancel the deal with Twitter in July 2022. The billionaire complained that Twitter breached its agreement with him on the acquisition. Also, Musk mentioned that Twitter falsified its customer base as it parades several bots and fake accounts on the platform.
Finally, the parties settled all the issues regarding the acquisition of Twitter. Musk become the new CEO of the social media platform. Under his leadership, Twitter has seen several updates and additions related to cryptocurrencies.
Adding crypto to the $Cashtags feature on Twitter is like the starting point. Also, the developing team at Twitter is working on integrating crypto payments into the app. According to the team, there are still more features coming on the social media platform for crypto tokens.
As the crypto sector keeps receiving more features, users wonder what the platform's next move will be.
Elon Musk’s post on his Twitter page indicated the company's next preparations in the future. With Musk's position regarding Dogecoin, many people feel he will give preferential treatment to the leading meme coin on Twitter.
