{"id":545719,"date":"2023-08-03T17:49:26","date_gmt":"2023-08-03T17:49:26","guid":{"rendered":"https:\/\/wncen.com\/?p=545719"},"modified":"2024-06-11T14:39:19","modified_gmt":"2024-06-11T14:39:19","slug":"breaking-elon-musks-x-to-launch-trading-app-dogecoin-to-play-a-part","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/breaking-elon-musks-x-to-launch-trading-app-dogecoin-to-play-a-part\/","title":{"rendered":"Breaking: Elon Musk&#8217;s X To Launch Trading App, Dogecoin To Play A Part?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">According to a recent <a href=\"https:\/\/www.semafor.com\/article\/08\/03\/2023\/elon-musks-plan-to-own-the-meme-stocks\" target=\"_blank\" rel=\"noopener nofollow\">report<\/a> by Semafor, the company formerly known as Twitter (X) is making waves yet again, as it seeks to transform itself into a financial data giant by building a trading hub within its app. Will Dogecoin take the center of the stage?<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Elon Musk&#8217;s X Set To Disrupt Traditional Trading Platforms?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">In a request for plans viewed by Semafor and individuals familiar with the matter, the company outlined its vision for integrating financial content, real-time stock data, and other features into its platform.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The request emphasizes the power of real-time information in investing. It highlights the enormous user base of &#8220;hundreds of millions of highly-qualified users&#8221; that the company can offer to potential partners.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/uni\/why-the-uniswap-uni-token-is-almost-worthless\/\" target=\"_blank\" rel=\"noopener \">Why The Uniswap (UNI) Token Is Almost Worthless: Researcher<\/a><\/div>\n<p><span style=\"font-weight: 400\">One striking aspect of the request is the absence of any mention of compensation. Instead, interested bidders are asked to state how much money they will commit to the project.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">This unconventional approach reflects the company&#8217;s determination to forge a new path and disrupt the industry without relying on traditional financial partnerships or revenue models.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The comparison to WeChat in China, Gojek in Indonesia, Grab in Singapore, and Gozem in Africa further illustrates the company&#8217;s ambition.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">These \u201csuper-apps\u201d have transformed how people in their respective regions interact with technology, offering a wide range of services within a single platform. By positioning itself as the first Western super-app, the company aims to disrupt the traditional trading platforms.<\/span><\/p>\n<h3><span style=\"font-weight: 400\">Dogecoin Integration On X&#8217;s Trading App?<\/span><\/h3>\n<p><span style=\"font-weight: 400\">Twitter&#8217;s latest move to introduce a feature allowing users to access live stock charts by simply searching for a &#8220;cashtag&#8221; has sparked intrigue and speculation in the online community.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">With cashtag clicks experiencing a remarkable 51% growth over the past two months, it&#8217;s clear that Twitter is onto something potentially lucrative. This feature could attract users and generate revenue for the company through partnerships with data startups like TradingView.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/shiba-inu\/shiba-inu-notches-new-adoption-record-in-anticipation-of-shibarium-launch\/\" target=\"_blank\" rel=\"noopener \">Shiba Inu Notches New Adoption Record In Anticipation Of Shibarium Launch<\/a><\/div>\n<p><span style=\"font-weight: 400\">On the other hand, Musk&#8217;s support for Dogecoin has been well-documented, and now, with the introduction of his new trading app, speculation is growing about the potential impact on the meme coin&#8217;s price.<\/span><\/p>\n<figure style=\"width: 1815px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.tradingview.com\/x\/iZF2rpcf\/\" alt=\"Dogecoin \" width=\"1815\" height=\"858\"><figcaption class=\"wp-caption-text\">DOGE&#8217;s sideways price action over the last 24 hours on the 1-day chart. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/imgb0rW1\/\" target=\"_blank\" rel=\"noopener nofollow\">DOGEUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n<p><span style=\"font-weight: 400\">When writing, Dogecoin is trading at $0.07461, maintaining its price level for the past 24 hours. Nevertheless, the introduction of Musk&#8217;s trading app has the potential to ignite a new wave of enthusiasm for Dogecoin, increasing its value.<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, it&#8217;s worth noting that Twitter&#8217;s plans to incorporate a one-click option to buy and sell stocks on eToro, a competitor to Robinhood, have been delayed.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Initially slated for an April launch, this feature has yet to materialize. The potential to refer users to a brokerage platform like eToro could be a significant revenue stream for Twitter, as it seeks to regain the advertisers it lost after Elon Musk&#8217;s takeover.<\/span><\/p>\n<p><span style=\"font-weight: 400\">While Twitter&#8217;s foray into financial services and e-commerce may seem bold and innovative, it is not without its challenges. Other social media giants in the United States, such as Snapchat and Meta (formerly Facebook), have attempted similar ventures with little success.<\/span><\/p>\n<p>UPDATE: Elon Musk denied the report and claims that X (Twitter) is not looking to launch trading services.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">No we aren\u2019t<\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/56424961?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">August 3, 2023<\/a><span style=\"color: #333333\">\u00a0<\/span><\/p><\/blockquote>\n<p><span style=\"font-weight: 400\">Featured image from iStock, chart from TradingView.com <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>According to a recent report by Semafor, the company formerly known as Twitter (X) is making waves yet again, as it seeks to transform itself into a financial data giant by building a trading hub within its app. Will Dogecoin take the center of the stage? Elon Musk&#8217;s X Set To Disrupt Traditional Trading Platforms? In a request for plans viewed by Semafor and individuals familiar with the matter, the company outlined its vision for integrating financial content, real-time stock data, and other features into its platform.\u00a0 The request emphasizes the power of real-time information in investing. It highlights the enormous user base of &#8220;hundreds of millions of highly-qualified users&#8221; that the company can offer to potential partners. Related Reading: Why The Uniswap (UNI) Token Is Almost Worthless: Researcher One striking aspect of the request is the absence of any mention of compensation. Instead, interested bidders are asked to state how much money they will commit to the project.\u00a0 This unconventional approach reflects the company&#8217;s determination to forge a new path and disrupt the industry without relying on traditional financial partnerships or revenue models. The comparison to WeChat in China, Gojek in Indonesia, Grab in Singapore, and Gozem in Africa further illustrates the company&#8217;s ambition.\u00a0 These \u201csuper-apps\u201d have transformed how people in their respective regions interact with technology, offering a wide range of services within a single platform. By positioning itself as the first Western super-app, the company aims to disrupt the traditional trading platforms. Dogecoin Integration On X&#8217;s Trading App? Twitter&#8217;s latest move to introduce a feature allowing users to access live stock charts by simply searching for a &#8220;cashtag&#8221; has sparked intrigue and speculation in the online community.\u00a0 With cashtag clicks experiencing a remarkable 51% growth over the past two months, it&#8217;s clear that Twitter is onto something potentially lucrative. This feature could attract users and generate revenue for the company through partnerships with data startups like TradingView. Related Reading: Shiba Inu Notches New Adoption Record In Anticipation Of Shibarium Launch On the other hand, Musk&#8217;s support for Dogecoin has been well-documented, and now, with the introduction of his new trading app, speculation is growing about the potential impact on the meme coin&#8217;s price. When writing, Dogecoin is trading at $0.07461, maintaining its price level for the past 24 hours. Nevertheless, the introduction of Musk&#8217;s trading app has the potential to ignite a new wave of enthusiasm for Dogecoin, increasing its value. However, it&#8217;s worth noting that Twitter&#8217;s plans to incorporate a one-click option to buy and sell stocks on eToro, a competitor to Robinhood, have been delayed.\u00a0 Initially slated for an April launch, this feature has yet to materialize. The potential to refer users to a brokerage platform like eToro could be a significant revenue stream for Twitter, as it seeks to regain the advertisers it lost after Elon Musk&#8217;s takeover. While Twitter&#8217;s foray into financial services and e-commerce may seem bold and innovative, it is not without its challenges. Other social media giants in the United States, such as Snapchat and Meta (formerly Facebook), have attempted similar ventures with little success. UPDATE: Elon Musk denied the report and claims that X (Twitter) is not looking to launch trading services. No we aren\u2019t \u2014 Elon Musk (@elonmusk) August 3, 2023\u00a0 Featured image from iStock, chart from TradingView.com<\/p>\n","protected":false},"author":589,"featured_media":545721,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[6664,54512,7,79600,8375],"class_list":["post-545719","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-defi","tag-dogecoin","tag-dogeusdt","tag-elon-musk"],"acf":[],"yoast_head":"\n<title>Breaking: Elon Musk&#039;s X To Launch Trading App, Dogecoin To Play A Part?<\/title>\n<meta name=\"description\" content=\"The company formerly known as Twitter (X) is making waves as it seeks to transform itself. 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