The new partnership with social trading platform eToro will Twitter users to instantly access real-time market data from TradingView on a wide range of stocks, cryptocurrencies, ETFs, and commodities. The chart will appear when a user searches for a relevant “cashtag” by typing a “$” sign and a ticker into the Twitter search bar.
The new feature also includes a button that reads “View on eToro” and directs users to the eToro’s site to buy and sell the searched asset on its platform.
Currently, it’s already possible to view 24-hour price charts for a range of blue-chip stocks, including Apple, Tesla, Microsoft, Nvidia, and Google, but no such feature is available yet for any of the top 10 cryptocurrencies, despite the earlier announcement by eToro.
“Following the launch of the eToro partnership, the list of $Cashtags that produce live price charts will be hugely expanded, while users will now also be able to click through to the eToro platform to see more information on the asset and have the option to invest,” the platform stated in its press release.
The partnership with eToro marks the first major business deal for Twitter since its acquisition by Elon Musk in late October. The new feature falls in line with Musk’s plans to turn the site into a super app called X that will likely draw inspiration from Tencent’s WeChat, a Chinese Swiss Army knife social media platform that offers video chatting, food delivery, payments, search engine, news feed, games, and ride sharing services, to name but a few.
Earlier this week, Bloomberg reported that Twitter no longer exists as an independent company after merging with a newly formed shell firm named X Corp, fueling speculations about what’s next for the site under the new CEO. The world’s second-richest man also owns the domain X.com, which is the name of the online bank he co-founded in 1999 and merged with PayPal.
Launched in December 2022, the cashtags feature has recorded more than 450 million searches since the beginning of the year, with 4.7 million searches daily. The most commonly used cashtags were $TSLA (Tesla), with $SPY (SPDR S&P 500 ETF) and $BTC (Bitcoin) also ranking in top 5.
“Twitter is what’s happening and what people are talking about right now. We believe real change starts with conversation and finance and investing is a growing part of that conversation. We are pleased to partner with eToro to provide Twitter users with additional market insights and greater access to investment capabilities. Twitter will continue to invest in growing the #FinTwitter community,” Twitter VP, Global Sales & Marketing Chris Riedy said in a statement.
Founded in 2007, eToro is a multi-asset brokerage company that offers stocks, crypto, and CFD trading to more than 30 million registered users globally. The platform was the first to bring a social angle to investing, allowing users to share and copy each other's investment strategies.
“Financial content on social media has provided education to many who have felt excluded by more traditional channels. Twitter has become a crucial part of the retail investing community – it’s where millions of ordinary investors go every day to access financial news, share knowledge and converse. As the social investing network, eToro was built on these very principles – community, knowledge-sharing and better access to financial markets,” said eToro CEO and co-founder Yoni Assia.