In the latest development, Twitter is said to have set up a ‘Twitter Crypto’ crypto team focusing on crypto solutions, Dapps, non-fungible tokens (NFT) and decentralized finance (DeFi).
It seems that Twitter really seriously wants to focus on the development of crypto-related social media sites after the launch of tips in Bitcoin (BTC) last month.
Not only that, Twitter has also launched a decentralized social media platform initiative, Bluesky in August and it is rumored that it is still in its early stages.
‘Twitter Crypto’ Summary:
Led by Tess Rinearson, an individual once involved in the development of Tendermint Core, Chain.com, Interchain Foundation, and Cosmos.
Aims to further perfect the Bitcoin tipping platform and identity verification services through NFT.
Seek support for Dapps and solutions related to identity, asset ownership, and community development.
Responsible for handling Web 3.0-related activities.
This idea although good news for crypto proponents but it still failed to push Twitter shares (NYSE: TWTR) to positive levels with observations finding it declined almost 25% in almost 2 weeks.
If the downtrend continues, Twitter shares are unlikely to touch the $ 50 support level. If the opposite happens, the share price of this social media platform will re-trade at $ 55- $ 60.
Twitter shares closed at $ 52.33 while the crypto market saw a price correction following the fall in the price of Bitcoin (BTC) by nearly 10%.
