Dogecoin (DOGE) and Mask Network (MASK) Surge After Twitter Hints at Crypto Payment Integration
Dogecoin’s price has surged following news that Twitter might integrate cryptocurrency payments. Meanwhile, MASK has experienced a dramatic price increase on the same news.
Dogecoin (DOGE) and Mask Network (MASK) Surge After Twitter Hints at Crypto Payment Integration
Despite CEO Elon Musk’s preference for fiat payments, Twitter might add cryptocurrency options to its platform in the future, according to the Financial Times.
Elon Musk pushes forward with Twitter payment master plan https://t.co/fOpkrypSzz
— Financial Times (@FT) January 30, 2023
Since acquiring the social media platform late last year, Musk has been exploring various revenue streams for the company. Twitter registered as a social payment business in November 2022.
Additionally, the platform is developing a “Twitter Coin,” allowing users to purchase the coin with fiat via Stripe’s payment gateway. This coin could be used for rewards, similar to Reddit’s approach.
As reported by Coin68, on the afternoon of December 5, the crypto community on Twitter was abuzz with speculation about Twitter’s upcoming platform-specific token. It remains unclear whether this will be a conventional digital currency or a true cryptocurrency.
Twitter has been exploring cryptocurrency integration despite its unclear stance. After the departure of its crypto tech lead in November 2022, Twitter continued to allow users to display NFTs through the Twitter Blue package.
Moreover, users can tip their favorite content creators with Bitcoin via Strike. Eligible Twitter users can even display their Ethereum and Bitcoin wallet addresses to receive tips.
In response to the latest news, Dogecoin — Musk’s favored token — has risen from $0.08 to $0.091. Currently, DOGE is trading around $0.09 and showing signs of further increase.
1H Chart of DOGE/USDT on Binance as of 08:35 AM, January 31, 2023
Meanwhile, Mask Network’s MASK, often referred to as “Twitter for Web3,” has seen an even more significant spike. As of this report, MASK has surged nearly 20% from the previous day and is trading around $3.70.
1H Chart of MASK/USDT on Binance as of 08:35 AM, January 31, 2023
