Dogecoin Barely Blinks As Musk Confirms X Money Is Running Internally
NeutralCryptocurrency
- Elon Musk has confirmed that X Money, the internal payments layer for the social media platform X, is now operational. Despite this significant development, Dogecoin, a cryptocurrency often associated with Musk, has shown little market reaction. This update was shared in a brief response to developer Nima Owji on December 10, indicating that the feature has been launched internally.
- The launch of X Money is crucial for X as it aims to enhance user engagement and monetization strategies. By integrating a payments system, the platform could potentially streamline transactions and attract more users, thereby increasing its competitive edge in the social media landscape.
- This development occurs against a backdrop of fluctuating market conditions for cryptocurrencies, particularly for Dogecoin, which is facing critical on-chain risk metrics. Additionally, Musk's fluctuating support for various cryptocurrencies, including Bitcoin and Dogecoin, highlights ongoing debates about the influence of high-profile figures in the crypto market and the volatility that often accompanies such endorsements.
— via World Pulse Now AI Editorial System
