Twitter to integrate eToro for users to buy and sell cryptocurrencies, is $Cashtag Twitter's new revenue source?

The online brokerage platform eToro has partnered with Twitter to allow users to view price charts of cryptocurrencies and stocks using the $Cashtag symbol, and to trade on eToro.

eToro Integrates with Twitter

Online brokerage platform eToro will integrate with Twitter on Thursday, allowing $Cashtags to cover more tools and asset classes and further connect to eToro trading.

Currently, Twitter users can search for stock codes or cryptocurrencies by adding a $ symbol at the beginning to display TradingView price charts. Note: At the time of submission, this feature was not appearing as usual. For related information: Search BTC, ETH, and instantly display coin price charts.

Is $Cashtag Twitter's New Revenue Source?

Since Tesla founder Elon Musk took over Twitter, profitability has been a top priority, implementing policies such as layoffs, paid verification accounts, and ad revenue sharing, and aiming to become a "super app." For more insights into Musk's Twitter plans, please see: Musk: Creators Will Have Ad Revenue Sharing, the Return of X.com.

According to a report by CNBC, $Cashtag added price data in December last year. Since 2023, $Cashtag has been searched over 420 million times, with 4.7 million searches daily.

eToro CEO Yoni Assia stated, "Fintwit" has become a popular trend on Twitter, where people use it to find breaking news or the latest status of stocks and other assets.

The news of eToro's collaboration with Twitter and the commercial agreement between the two will undoubtedly bring new revenue streams to Twitter.