In a nod to the growing popularity of cryptocurrencies, X (formerly Twitter) is inching toward price tracking for digital assets. Following the disclosure, crypto prices surged with Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) recording impressive returns over the last day.
Microblogging platform X has announced plans to roll out a new price-tracking feature for digital assets in the coming weeks. Dubbed Smart Cashtags, the feature will allow users to specify financial assets via tickers and view real-time prices.
According to an X post by Nikita Bier, head of product at the Elon Musk-owned platform, the new feature will extend to smart contracts and other financial assets. Per the teaser, users will be able to see real-time stock prices by tapping tickers in posts.
“We are building Smart Cashtags that allow you to specify the exact asset (or smart contract) when posting a ticker,” wrote Bier. “From Timeline, users will be able to tap them to see their real-time price along with all mentions of that asset.”
Bier disclosed that the incoming feature is a necessity for X users, citing the platform’s utility as a source for financial news. Going forward, the executive confirmed that X will begin collecting feedback ahead of a “public release next month.”
The disclosure triggered a wave of excitement among ecosystem players, with one pundit noting that the move “transforms X into a native discovery engine for crypto assets.” Already, users are mulling using the incoming functionality to trade futures with self-custodial wallets. Others are eyeing the rollout of native crypto payment functionality on X in the near future.
Within minutes of the announcement, cryptocurrency prices flashed brilliance. BTC climbed 2% higher to break the $90,000 psychological point while ETH reached an intra-day trading peak of $3,141.
Crypto Twitter Rages At Nikita Bier
Before the Smart Cashtags announcement, a cross-section of X users took swipes at Bier for reportedly stifling cryptocurrency-related conversations on the platform. Several crypto personalities, including CryptoQuant CEO Ki Young Ju, criticized X for throttling crypto-themed posts under anti-spam updates while neglecting the issue of bots.
Meanwhile, Bier blamed the community for the decline in engagement, describing it as largely self-inflicted. Bier revealed that several accounts in the cryptocurrency ecosystem exhaust their daily reach on low-level posts like replying “gm” multiple times. After exhausting their daily reach, Bier noted that real content, such as project announcements, will only be shown to a handful of users.
“CT is dying from suicide, not from the algorithm,” wrote Bier.
Source: https://zycrypto.com/elon-musks-x-to-enable-price-tracking-for-bitcoin-xrp-ether-and-solana/
