- Twitter adds price index data to search results for BTC and ETH with more assets likely to follow.
- The integration could drive crypto market prices higher as they boost the space’s popularity.
Twitter has continued to integrate more crypto-related features. The micro-blogging platform now brings up price indexes for searches about popular cryptocurrencies like Bitcoin and Ether.
Twitter’s Business team announced the feature as an improvement to its existing ‘$cashtags’ feature. The feature also works for popular stock and ETF tickers.
The $Cashtags feature provides a clickable link that takes users to search results when interacting with tweets that include the tickers of popular financial assets with a ‘$’ symbol in front of them. Twitter Business explains that with the improvement, these search results now include the pricing graph of the asset.
When you Tweet the symbol of a major stock, ETF, or crypto currency with a $ in front of it (like $BTC), people on Twitter see a clickable link that takes them to search results.
Starting today, these search results will include the pricing graphs for major symbols.
— Twitter Business (@TwitterBusiness) December 21, 2022
The team adds that in the coming days it will improve the user experience and expand the number of assets supported. Twitter owner and current CEO Elon Musk called the feature “one of many product improvements coming to financial Twitter.” In his tweet, he also congratulated the team.
Meanwhile, tests of the feature show that the only cryptocurrency price indexes currently supported are ‘$BTC’ and ‘$ETH.’ Other cryptocurrencies including Elon Musk’s beloved Dogecoin are yet to make the cut.
Software developer and tech blogger Jane Manchun Wong has pointed out that the price charts are images sourced from charting platform Trading View. The search results for BTC and ETH also provide links to Robinhood for Twitter users to view more about the assets.
This came as a surprise to the community as Twitter and Robinhood did not announce a partnership. However, the feature is likely to drive traffic to the commission-free multi-asset trading platform. This in turn could be a revenue source for Twitter if an agreement is reached.
Twitter advancing rapidly with crypto integration under Musk
The feature is not the first time Twitter has been at the center of exciting crypto-related developments under Musk. Previously, Musk unveiled plans for ‘Twitter 2.0’ that include what the community speculates will be a blockchain-based/ crypto–backed payments solution.
Musk had also talked about adding DOGE as a payment option accepted for Twitter Blue subscriptions when he first bought shares of the company. Meanwhile, recent findings for Twitter’s code repository show that the company is working on a feature called ‘Coins.’ Rumors making the rounds indicate that this is likely its cryptocurrency and fiat payments solutions.
Nonetheless, the latest improvement to $Cashtags could see the price of BTC and ETH gain more ground. At press time, BTC was trading at around $16,860, up 0.1% in the last 24 hours. ETH was similarly up 0.32% in the last 24 hours, trading at around $1,220.
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