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X will launch "smart tickers" with cryptocurrency and stock prices - ForkLog: cryptocurrencies, AI, singularity, the future
The X team is working on the Smart Cashtags feature. It will allow linking cryptocurrency and stock tickers in posts with real-time market data, said platform product lead Nikita Bier.
Clicking on a “smart cashtag” will open a page with quotes, a price chart, and a feed of posts mentioning the asset. In some cases, tokens will be identified by their smart contract address.
The feature launch is scheduled for February. According to Bier, the company is currently analyzing community feedback.
The top manager also hinted at the possible implementation of trading. It is expected that transactions can be made through connected non-custodial wallets or widgets of centralized exchanges.
In June, former X CEO Linda Yakkarino announced the introduction of trading and investment tools in the app, but she left the company a month later.
Elon Musk has also repeatedly stated plans to turn the platform into a financial “super app,” including integrating cryptocurrencies.
At the end of 2023, the billionaire said that the company expects to obtain licenses to launch a payment service by mid-2024, but as of writing, the service has not yet launched.
Conflict
The announcement of Smart Cashtags came amid disputes that erupted in the community the day before. The reason was a deleted post by Bier, in which he criticized the behavior of crypto segment participants on X.
He wrote that the digital assets section of the social network “is killing itself.” The top manager refuted the popular fallacy from autumn that a large number of replies under posts helps boost the account. Bier called this theory a myth.
Users found the top manager’s words contradictory, as previously the X team encouraged active engagement to increase reach.
Critics believe that Bier’s proposed “attention economy” concept undermines the platform’s fundamentals. In their view, the main value of the social network lies precisely in participant interaction.
A similar opinion was expressed by analyst under the nickname KALEO. He believes that limiting reply frequency contradicts the very essence of X. The prospect of introducing such limits already causes concern among users.
Against the backdrop of the conflict, members of the crypto community created a new meme — “Nikita Boar,” shared by Bier himself.
Decentralized exchanges have already flooded the relevant meme coins. As of now, the market cap of the largest one under the ticker BOAR exceeds $318 million.