Toncoin weekly winner while Bitcoin is steadily growing again and awaits the Fed on Wednesday
Last Updated on 5 November 2023 by CryptoTips.eu
Telegram is integrating Web3 to Toncoin, directly introducing the small cryptocurrency to its 800 million members (and sending it upwards more than 36% this week).
Bitcoin meanwhile continues to steadily rise towards $26,500 and, against all expectations, is having a fairly quiet month of September so far.
Toncoin and Whatsapp
Toncoin, the small cryptocurrency linked to social media platform Telegram, rose 36% in the past week to $2.33.
The increase came after Telegram announced it had incorporated The Open Network blockchain’s Web3 wallet into its messaging application, giving it’s 800 million users simplified access to Toncoin. This represents a symbolic triumph for Telegram, which previously faced legal backlash from the American stock market watchdog SEC over its offering of Toncoin.
1/ I am living my dream every day. On Tuesday, @telegram and @ton_blockchain made a significant announcement that could bring hundreds of millions of users to Web3 and give birth to a new SuperApp.— Ryan Dennis (@defidennis) September 15, 2023
A 🧵 on TON's new integration into Telegram and what it means for everyone.
Normally you only hear about Toncoin whenever WhatsApp is down again, because this causes a spike in searches for Telegram, just like what happened a few times in 2022.
By now, Toncoin has confirmed its importance and ranks nicely in the top ten of largest digital coins on CoinMarketCap.
Bitcoin in September
Bitcoin, the largest digital currency, is having a fairly quiet month of September so far. That’s remarkable considering this month is historically the worst of them all. Fortunately, it seems that investors are already looking ahead to October, which is one of the best months of all, so let’s be bullish about that.
The Federal Reserve meeting on Wednesday, September 20, where interest rates in the United States will be decided, will still be important for Bitcoin (and stock exchanges in general). However, given the current inflation trend in the United States, investors appear to be betting on a continuation of current interest rates and no surprises.
At the time of writing, Bitcoin is trading for $26,670.