On May 23, 2018, we published revised versions of our Privacy Policy and User Agreements. Please read these updated terms and take some time to understand them. Your use of our services is subject to these revised terms.
Yes, I Agree.

New X Payment Account Spurs Speculation in Crypto Community

X (formerly known as Twitter) has recently established a dedicated account signaling the imminent integration of a payment feature, sparking curiosity within the cryptocurrency community regarding the potential inclusion of digital assets. There is widespread speculation that X’s upcoming application update, expected by mid-2024, will introduce in-app payment services. However, the details about whether this feature will support transactions beyond conventional fiat currencies remain unconfirmed.

While the newly created account has yet to share any posts, its verification status, indicated by the gold badge, confirms its legitimacy as an official organizational account. Furthermore, the presence of the distinctive X badge suggests a direct association with the X platform.

Mason Versluis, a prominent crypto researcher, conveyed his excitement to his substantial following of 169,000 on X. He pondered the possibility of witnessing various cryptos beginning with the letter “X” featured on the app, citing examples such as XDC and XRP.

Meanwhile, Tokenicer, another crypto researcher, told his followers that he thinks X has moved its focus away from content related to cryptocurrencies. X introduced a revenue-sharing system for ads in 2023, enabling content producers to make money from their work on the app. According to him, the platform has reduced payments for content related to cryptocurrency. The payment structure, however, is subject to change between periods as it is determined by the total impressions that content providers receive.

Following Elon Musk’s April 2022 acquisition of Twitter, many have speculated that the platform will become something completely different. Based on Musk’s frequent remarks, there has been continuous conjecture that cryptocurrency will be incorporated. Musk stated in July 2023 that he thought X would one day allow customers to handle all of their financial transactions. The billionaire has already incorporated Dogecoin as a payment option for Tesla products, occasionally referencing it on his social-media platforms.

Moreover, last year, X posted an odd meme depicting a dog taking a phone call, prompting Dogecoin users and investors to presume its possible implications. This has fueled speculation within the community, with many considering the altcoin as the most probable candidate for inclusion on the X platform.

Following the account creation, several altcoins surged, with Dogecoin experiencing a double-digit price increase. However, this was followed by a small decline, which kept the coin’s value stable at $0.0785. Siacoin and Chiliz saw a 16.7% and 12% surge, respectively.

Crypto industry players such as Riot Blockchain Inc. (NASDAQ: RIOT) will be waiting to see what X and its executives eventually communicate about the ways in which the new payment account will serve the users of the platform.

About CryptoCurrencyWire

CryptoCurrencyWire (“CCW”) is a specialized communications platform with a focus on blockchain and the cryptocurrency sector. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, CCW is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, CCW brings its clients unparalleled recognition and brand awareness. CCW is where breaking news, insightful content and actionable information converge.

To receive SMS alerts from CryptoCurrencyWire, text “CRYPTO” to 888-902-4192 (U.S. Mobile Phones Only)

For more information, please visit https://www.CryptoCurrencyWire.com

Please see full terms of use and disclaimers on the CryptoCurrencyWire website applicable to all content provided by CCW, wherever published or re-published: https://www.CryptoCurrencyWire.com/Disclaimer

CryptoCurrencyWire
New York, NY
www.CryptoCurrencyWire.com
212.994.9818 Office
Editor@CryptoCurrencyWire.com

CryptoCurrencyWire is powered by IBN

Archives

Select A Month

Official NewsWire Relationships

Anarchapulco Main Event Blockchain Africa Conference Blockchain Futurist Conference Blockchain Life Conference Blockchain Shift Coingenius Coinvention CryptoBlockCon CryptoFest European Blockchain Convention EVOLV - evolve.events Finovate nftexpoverse Paris Blockchain Week The North American Bitcoin Conference Virtual Blockchain Week The Voice of Blockchain World Crypto Conference

CryptoCurrencyWire Currently Accepts

Bitcoin

Bitcoin

Bitcoin Cash

Bitcoin Cash

Doge Coin

Dogecoin

Ethereum

Ethereum

Litecoin

Litecoin

USD Coin

USD Coin

Contact us: 212.994.9818