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Social media, for a long time, has proven to be an integral part in people’s daily activities. With the continuous adoption of blockchain technology all over the world, social media platforms have not been left out with Twitter and Telegram leading the way for other social media platforms.
Twitter introduces crypto charts
For a long time, the primary microblogging network Twitter has supported cashtags (tags that begin with the $ symbol). In late December 2022, the platform started providing data coverage for some of the most popular cryptocurrencies, equities, and exchange-traded funds (ETFs).
According to the official tweet on December 21, 2022, users may click on a cashtag, which is shown as a link, or search for the tag on Twitter and examine real-time statistics without leaving the site. The charts, according to the thread, are powered by the market monitoring website TradingView.
Also, without declaring any agreement, Twitter has introduced a button that leads to the trading site Robinhood. According to the discussion, the Elon Musk-owned firm will soon add support for additional assets.
Twitter just introduced cashtag data support for about 30 more assets, according to CoinTelegraph. According to the publication, 30 of the top 50 cryptocurrencies may now be linked to real-time data.
Jane Manchun Wong, a Hong Kong-based blogger and security expert, stated last week that Twitter was working on an online payment method for Coins using Stripe. Wong's comments come at a time when the Billionaire CEO has been a long-time advocate of the dog-themed crypto asset, Dogecoin (DOGE), but there has been no indication of him accepting cryptocurrency payments.
Moreover, The Information's Erin Woo reported that Twitter has prohibited third-party applications and bots after certain users, including YouTube's Rene Ritchie, complained about the problem. The majority of users who have complained about the latest suspension have shared screenshots of their bots that have stopped working alongside Twitter.
Telegram now supports the USDT wallet
After the twitter new charts feature, telegram has followed suit in adopting crypto. Telegram's wallet bot now supports USDT, expanding the capacity for buying and selling cryptocurrencies inside the chat service.
Telegram's wallet bot now enables the purchase and sale of USDT, expanding the messaging app's cryptocurrency trading capabilities. Telegram users may now send tether, the largest stablecoin in terms of market cap, to one another using the program's chat capabilities.
Incorporation of cryptocurrency payments into messaging apps like Telegram, which in theory would make transferring money as easy as sending a text message or a photo, could be a very positive development for bitcoin adoption.
Bitcoin (BTC) and toncoin (TON) were added to the Telegram wallet marketplace in April of last year, with the latter also being able to be transferred between chats.
Stablecoins, such as USDT, provide the same advantages as other cryptocurrencies. Yet, they do so without the price volatility that plagues cryptocurrencies like bitcoin and ether. As a result, they are a vital component for users who want to keep their money in the bitcoin ecosystem but do not want to risk it by exposing it to substantial price changes.
What does the future hold for Telegram, Twitter and crypto?
As a consequence, the addition of USDT might represent a huge upgrade for Telegram's cryptocurrency service. Twitter’s move as well serves as a great drawal point for crypto enthusiasts.
The potential impact of Telegram wallet bots accepting USDT payments on stablecoin and crypto adoption cannot be overstated. With approximately 700 million active users as of 2022, Telegram's integration of USDT payments might expose more people to the stablecoin not forgetting the impact Twitters massive customer base could have on the markets.
This greater exposure may result in more individuals utilising USDT, favourably boosting its value and increasing adoption even further. Moreover, the ease of making payments using USDT straight inside the Telegram app may be appealing to those searching for a quick and simple method to send dollars.
If more individuals begin to utilise USDT inside Telegram, the stablecoin's network effects may improve, making it even more appealing to new users. Therefore, the acceptance of USDT inside Telegram will most likely have important ramifications for the cryptocurrency industry as a whole, as it may help secure USDT's status as one of the market's main stablecoins not forgetting how the Twitter charts make it easier for the same traders to get quick market info.