X to Launch Smart Cashtags Feature for Real-Time Tracking of Crypto and Stocks
X to Launch 'Smart Cashtags' Next Month
Elon Musk's social media platform, X, is set to introduce a feature called "Smart Cashtags" next month, allowing users to track real-time price movements of cryptocurrencies and stocks. A concept screen also hinted at a highly anticipated feature for in-app trading.
In a post on X this Sunday, product lead Nikita Bier stated that users will have access to information about smart contracts related to cryptocurrencies, and all assets will have "mentions" displaying recent discussions and relevant news about the entities behind them.
"X is the best source for financial news — and hundreds of billions of dollars are invested based on what is read here," Bier added, noting that X aims to gather feedback before publicly launching the feature in February.
By integrating finance into X, Musk seeks to transform the social media platform into an all-in-one app since his acquisition in October 2022. This new attempt to implement a Cashtags feature comes after an initial version launched in December 2022, which displayed price charts for Bitcoin (BTC) and Ether (ETH), along with top stocks and exchange-traded funds. However, that feature was later removed.
Smart Cashtags seem poised to add more functionalities, with a concept screen displaying "Buy" and "Sell" buttons, although there is no information on how these will operate or when they will be available. Meanwhile, X has obtained licenses for money transmission in at least 25 states in the U.S., though it remains unclear how close the platform is to enabling payments, including cryptocurrency-based transactions.
Recently, the crypto community accused the social media platform of suppressing legitimate content while allowing a flood of spam to dominate feeds. Bier responded to the criticisms in a post on X that was later deleted, calling the accusations a myth. Musk has stated that his team plans to make X's recommendation algorithm available as open source in the coming days.
