eToro, the largest social trading network in the world, announced today on its website the upcoming release of the first version of a feature it refers to as “Streams” – a new Twitter style feed experience on eToro OpenBook, scheduled to be live this Sunday, the 29th of December.
Until the update is implemented, users of eToro who want to comment on an asset will have to post on the specific feed page for that asset. The problem with this approach is that it wasn’t flexible enough, so mentioning $GOOG for example, wouldn’t make the post appear on Etoro’s Google stock feed, making it impossible for one post to appear on multiple asset feeds.
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Cashtags, a feature introduced by Twitter last year, allow for posts to engage multiple feeds and thus get greater exposure and create larger discussions. For example, a twit of: “What do you think will depreciate the most in 2014, $GOLD, $USD or $JPY?” will reach people searching for any of the three assets.
The use of cashtags became very popular among financial commentators on Twitter, forcing other social networks like Facebook to incorporate them into their sites, creating a sort of standard internet protocol to refer to assets on social networks.
By implementing this update, eToro will not only make it easier for its users to find and comment on assets but will also bring it closer to the commonly accepted social network syntax. In the announcement it is written that eToro users should expect that in the future they will be able to share posts, comments and likes with external social networks, and sharing a common syntax will surely help to make it more efficient.