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Twitter’s Big Move In The Cryptocurrency Market

Social media giant X, formerly known as Twitter and headed by billionaire entrepreneur Elon Musk, has made a major entry into the cryptocurrency space, generating a lot of excitement. X’s recent acquisition of a regulatory license has sparked discussions about its potential impact on the cryptocurrency market, particularly meme coins.

This move paves the way for X to offer cryptocurrency services like storage, transfer, and trading within its platform. By obtaining regulatory approval from the Rhode Island Department of Business Regulation and registering with the Financial Crimes Enforcement Network (FinCEN), X is positioning itself as a comprehensive digital financial hub.

Under Musk’s leadership, X aims to create an all-in-one application that caters to diverse needs, and this regulatory milestone is a significant step in that direction.

The cryptocurrency market has faced regulatory challenges for a long time, making X’s licensing achievement noteworthy. This development is expected to have broad implications for various cryptocurrencies, particularly meme coins. Dogecoin, a popular meme coin linked to Musk, experienced a 6% price surge after the announcement of X’s regulatory license.

Among meme coins, Golden Inu stands out with its unique approach to utility and security. Golden Inu prioritizes safety and decentralization, backed by multiple security audits and a founder who gave up ownership of $GOLDEN tokens. The project’s upcoming ventures include the Golden InuVerse, a play-to-earn game, and the Golden Bazaar, a decentralized finance (DeFi) marketplace, showcasing its utility-focused strategy.

What distinguishes Golden Inu is its innovative token-burning mechanism. The Golden Treasury smart contract allocates 50% of dApps’ revenue to buy back and burn tokens, enhancing scarcity and potential long-term value appreciation.

There are rumors about a potential Twitter Coin launch by Elon Musk, which has industry observers speculating about the future of meme coins, particularly Dogecoin. Leaked screenshots reveal a “Coin” feature on Twitter that would enable users to reward each other using Twitter Coins. This development could have significant implications for existing meme coins.

Image Source: Rokas Tenys / Shutterstock

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