It is a well-known theory among crypto community members that Tesla CEO Elon Musk is bullish on Dogecoin (DOGE). Many speculate that he would incorporate the coin into his social media platform X (formerly Twitter) as a payment method.
While Elon has yet to make any formal announcement about it, to many, it’s not a matter of if but when. Recently, Elon made an announcement that potentially hints at their speculations becoming a reality.
Elon Musk’s New X Payments Strategy To Involve Dogecoin?
On Monday, April 15, Elon Musk, on his X page, announced plans to begin charging new users on the social media platform to fight against scam bots and spam. Musk, in his post, indicated that this new strategy is the best way to combat this menace, which he has been fighting against since he took charge of the platform in 2022. He also explained further that the fee structure might eventually apply to everyday functions of the media app, like posting, bookmarking, and replying.
While all that Musk has revealed about the payment is that it will be a small fee, he has yet to indicate what currency will be accepted. On the other hand, the crypto community members on X are not delighted with the announcement, and many of them, like ZachXBT, took to their page to criticize the strategy.
Blockchain enthusiast ZachXBT pointed out that charging new users will not end hackers on the platform, as they sometimes even go to the extremes of paying to get verified badges. Also, they sometimes use government account badges; therefore, a small fee is unlikely to deter them.
Another user who shared the same sentiment as ZachXBT is a crypto influencer named Ansem. He criticized the strategy as ineffective enough to combat well-funded scammers and organized crime circles who could treat the small fee as a business expenditure. Others like Ignas focused on the fact that this new rule might prioritize financial gain instead of tackling the core problem of heightened scamming activities on the platform.
Elon Musk has implemented many changes to the X social media platform since buying it for $44 billion when it was still known as Twitter before rebranding it to X in 2023. He also monetized the X-verified badge, making users pay $8 to get a verified account, increasing the platform’s profitability.
The impact this new strategy will have on the platform is unknown; however, Dogecoin (DOGE) briefly rose by 4% after the announcement and currently trades at $0.15, according to Coinmarketcap. In the event that Musk does approve Dogecoin (DOGE) payments for the social media platform, it is expected to drive another impressive rally for Dogecoin.
ETFSwap (ETFS) Raises $750,000 With Successful Private Sale
ETFswap (ETFS) is a blockchain platform that tokenizes exchange-traded funds (ETFs), bringing the benefits of traditional finance on-chain through blockchain technology. Users on ETFswap (ETFS) will benefit from core functions like leverage trading, fractional ownership, staking, and unique swapping services. ETFswap (ETFS) also does not ask for Know Your Customer (KYC) requirements from users before they can access its services, enabling them to tap into the power of DeFi immediately.
The platform introduced its native token ETFS to whale investors in its private sale event, where it raised $750,000 from the investment of three angel investors and two institutional investors. The end of the private sale followed the beginning of the public sale, where it is currently offering ETFS at a low price of $0.00854 per coin in the stage 1 presale event.
Stage 2 will begin at a much higher price of $0.01831, cementing profit for stage 1 investors. Over 18.8 million tokens have been sold as investors are keen on getting this undervalued asset. Early investors are in line to make more profits as experts speculate that the token will surge to the $1 mark soon, easily turning a $500 investment into $50,000.
For more information about the ETFS Presale:
