Elon Musk’s long-rumored $X token for Twitter seems to be making its way to reality, according to a detailed thread from renowned trader and technical analysis expert, Cycl0p, also known by his Twitter handle, @nobrainflip.
In his thread, @nobrainflip shared that the latest developmental version of Twitter, rebranded as ‘X’, has implemented $X coins, a significant development with potential implications for the wider crypto market.
Since Musk’s acquisition of Twitter, the platform has undergone considerable transformations. @nobrainflip points out that a shift from ‘Tweets’ to ‘Posts’ and the introduction of revenue sharing for creators are clear indicators of the changing landscape. The upcoming $X coins may add a new layer of monetization opportunities for content creators.
The well-known trader explains that Twitter’s revenue share allowed creators to monetize views, but with $X coins, creators could potentially monetize subscribers, regardless of reach. This new approach would offer a way to support creators who bring value to readers, shifting the focus from spam to quality content.
The specifics of the $X token remain under wraps, but Cycl0p makes an educated guess, suggesting that these tokens will likely feature minimal fees, allowing donations of any amount. A standalone blockchain without commission fees would be an optimal realization of this vision, according to the analyst.
@nobrainflip further opines that given Elon Musk’s propensity for pumping coins, it is unlikely that $X will be a stablecoin. Rather, it is more likely to be a regular token, opening the doors to price speculation. He also highlights another potential earning opportunity through the purchase of ‘shitcoins’ with similar tickers immediately after announcements, drawing parallels with what happened post Twitter and Facebook rebranding.
The Twitter analyst concludes his thread with a prediction that if Twitter truly implements crypto, it could bring a considerable amount of liquidity into the market, potentially triggering a new bull run and signaling the peak of mass adoption. His final advice for content creators – focus on reader loyalty and engagement, providing value through posts, and being responsive to audiences.
In the midst of these transformative times, @nobrainflip’s analysis offers a valuable roadmap for understanding the potential trajectory of Twitter’s crypto strategy. As more details emerge, all eyes will be on Musk and his team to see how they navigate this pioneering path.
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