Twitter has partnered with eToro, a social trading platform, to allow users to buy and sell stocks and crypto assets directly from the social media platform, according to a CBNC report. The integration, launched on Thursday, allows users to invest in cryptocurrencies such as Bitcoin, Ethereum, and traditional stocks.
Per the report, the partnership with eToro is expected to make it easier for Twitter users to access the world of finance and investing, particularly in cryptocurrencies. This move marks Twitter’s latest push into the finance industry, following the recent launch of its new “Tip Jar” feature, which allows users to send and receive tips from other platform users.
Crypto Goes Mainstream With Twitter And eToro Integration.
With this new integration, users can link their eToro account to their Twitter account to buy and sell cryptos. The integration also includes a feature called “CopyTrader,” which allows users to automatically copy the trades of other eToro users with a proven track record of success. This feature is designed to make it easier for novice investors to start trading and investing.
The integration between Twitter and eToro will significantly benefit the crypto industry. Firstly, it will likely increase a wider audience’s awareness and adoption of cryptocurrencies.
Secondly, the integration is expected to boost cryptocurrency trading volumes and liquidity. This could help to stabilize their prices and make them more attractive to investors. Yoni Assia, eToro’s CEO, told CNBC:
There is very high quality content, real-time content on financial analysis of companies and what’s happening around the world. We believe this partnership will enable us to reach those new audiences [and] connect better the brands of Twitter and eToro.
Will DOGE Be Able To Consolidate Above Its Toughest Resistance?
Dogecoin’s (DOGE) price experienced a significant surge of 35% on April 2nd, following a bizarre incident where Twitter used the Doge meme as their home button. This surge propelled the “meme coin” to reach the $1 mark for the first time. However, DOGE’s price quickly retreated below the $1 line and has since been trading within a newly formed range of $0.0812 to $0.0853.
Following the announcement of Twitter’s integration with eToro, the price of Dogecoin (DOGE) experienced a rise of over 4% in just a few hours. Currently, DOGE is trading at $0.878, representing a significant profit of over 6% in the last 24 hours, outperforming all other top 10 major cryptocurrencies in the market.
If DOGE can break through the resistance level of $0.900 and establish it as a new support level, there is a possibility that DOGE’s price could surge above 10 cents. This would indicate a significant increase in value for the cryptocurrency.
Featured image from Unsplash, chart from TradingView.com