CryptoWatch brings you last week's top development in the cryptocurrency industry, with the top news being Telegram's massive USDT integration into the instant messaging app.
This centers on using Tether's stablecoin as a payment option for the platform, launched via the TON (The Open Network), its integrated blockchain network for open-source developers.
(Photo: Tech Times)
Over the weekend, there was also the once-in-every-four-years event known as Bitcoin halving, which is expected to bring massive changes for the top crypto.
Telegram's USDT Integration Now Here
A massive development on Telegram's instant messaging platform appeared last week as it accepted Tether's stablecoin, USDT, through the new 'The Open Network,' for users to enjoy.
This follows the May 2022 availability of cryptocurrency transactions on the platform for users to take advantage of. Still, in this new development, TON transfers on Telegram no longer charge a fee.
(Photo: AFP via Getty Images)
TON serves as Telegram's blockchain network for the many transactions coming, integrating into the instant messaging platform's ecosystem.
It also goes alongside Telegram's dedication and ties to the web3 ecosystem, with the stablecoin seeing a newfound integration to the encrypted messaging platform.
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Telegram Tether Payments
Through this Telegram Tether integration, users may now use the platform to pay using their owned holdings of the USDT stablecoin, a crypto known for being tied to the US dollar rate. It also comes when Telegram is already nearing one billion users on the platform, expanding more of its features with an integrated crypto payments option for all.
This integration is also expected to help boost Tether's USDT in the market, with more users able to access it and use it for various payments or transfers via TON.
Telegram users may access this via the Wallet bot, found in the search bar. After configuring this, users may purchase USDT and transfer funds to other users via the stablecoin app.
Bitcoin Halving 2024
Over the weekend, the once-in-every-four years (much like the Olympics) Bitcoin halving event took place, with the last one commencing in 2020 and the one before that in 2016.
The initial talks behind the BTC halving event claimed that it could lead to a massive change for the top crypto, one that would boost its market capitalization to as much as $35 trillion.
An analyst said that through this halving, the BTC block reward would be cut from 6.25 to 3.125.
Additionally, it was expected that this halving would disrupt the supply and demand for Bitcoin, one that previously saw a bearish performance in the market, with its mining supply dropping by half.
Previous halving events saw unprecedented effects, which helped boost the top crypto, one that could reach as much as $1.8 million in pricing and lead to a $35 trillion market cap.
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