Elon Musk's X has added trading to its cashtags, letting users go from a ticker on the timeline to partner platforms including Coinbase, Kraken, Gemini, Moomoo and Interactive Brokers. The feature, which CoinDesk reported is now live for U.S. users, lets them tap a cashtag such as $BTC or $TSLA to see live charts and related posts before pressing a "Trade" button. Dogecoin briefly pushed through $0.10 after the announcement, hitting its highest price since June, Decrypt reported.
How does the feature work? Cashtags, which CoinDesk reported have been available on X for years as a way to follow financial market chatter, were upgraded earlier this year with real-time prices and charts. Tapping "Trade" now takes users on to one of X's partner platforms. "Cashtags close the gap between a ticker on the timeline and the market itself," said Mridul Singhai, X's product engineering lead.
Where does it fit in X's plans? Adding a direct path to trade is the next step in Musk's effort to turn X into a broader finance destination, CoinDesk reported. Active daily engagement on X is put at around 132 million on mobile devices and more than 245 million across all devices. The platform is a central hub for the crypto community, where a single post from a prominent figure can shift liquidity across exchanges worldwide, and that town-square effect sets it apart from Discord and Telegram, where conversations are often fragmented across private channels.
How did Dogecoin trade? The coin opened at $0.0999 and spiked to $0.1059 intraday before sellers showed up, correcting to $0.0992 for a 0.62% loss on the day, Decrypt reported. Musk has spent years cheerleading Dogecoin, and his companies have flirted with using it as a payment rail. Derivatives open interest on the coin jumped roughly 10% in a single hour to around $350 million, while Pepe and Shiba Inu also gained as the wider meme coin sector rallied.
Figures referenced: Elon Musk. — JudgeMarket.
