Telegram better than the competition thanks to its crypto trading functions

Telegram, the messaging app with crypto functions and its independent The Open Network, is unique compared to its competitors. This is stated by Gracy Chen, CEO of the crypto-exchange Bitget, who praises the massive growth that Telegram will soon be able to have. 

Telegram: the offering of crypto features makes it a unique app compared to the competition

Telegram, the famous messaging app that offers crypto features, seems to be increasingly appreciated by the sector. 

In fact, the CEO of Bitget, Gracy Chen, wanted to highlight the features of Telegram by stating that it is a unique and all-encompassing app compared to its competitors.

Specifically, for Chen, Telegram, its independent The Open Network, and its crypto trading functions position the app for rapid massive growth. 

Here are the words of the CEO of Bitget:

“I think that the adoption of cryptocurrencies is definitely something that makes Telegram stand out among other social media, and this is truly one of the reasons why we want to be closer to the Open Network ecosystem.”

In fact, Telegram is growing exponentially and could soon include social media, payments, finance, entertainment, games, and communication features, just like the popular Chinese app WeChat.

In any case, it is no coincidence that such appreciations from Chen come right after the success of Bitget Wallet Lite, the Web3 multi-chain wallet integrated on Telegram. In fact, since its launch on October 28, Bitget Wallet Lite has already attracted over 6 million users, becoming in just a few days one of the fastest-growing Web3 wallets on Telegram.

Telegram: the offering of crypto features and the price of TON

Telegram continues to integrate new crypto features, making itself increasingly unique compared to its competition. 

Among the latest crypto news on Telegram, there was the launch of the Gift feature, which will allow users to send each other gifts using animated artworks and personalized messages. In this regard, Pavel Durov, CEO of Telegram, has already pre-announced that during the year these Gifts can then be converted into NFTs based on TON. Not only that, Pavel has also already assured that the tokenized gifts can be auctioned or exchanged outside of Telegram, with their ownership recorded on the blockchain.

News like these are achievable mainly thanks to Telegram’s independent blockchain, The Open Network (TON), on which the entire ecosystem can be built. 

Another indicator of appreciation for Telegram and its blockchain TON is also the price of Toncoin (TON). 

At the time of writing, TON is the 11th crypto by market capitalization, with the price being $4.86. 

Compared to the other cryptos that have ridden the bullish wave resulting from Trump’s victory in the US presidential elections, TON has only recorded a recovery. In fact, today’s price is more or less the same as it was seven days ago. Nothing to do yet with its ATH recorded last June, with the price of TON above $8. 

“An app for everything”: Is Telegram better than X?

If one wanted to make a comparison between Telegram and X, the situation of the two apps is very different. 

Two years ago, Elon Musk had recently purchased the social network Twitter and had presented his plans to make the current X become “an app for everything”, a definition that today is more closely associated with Telegram.

At that time, Musk had talked about earnings from content creators, but also about payment processing with debit cards and linked bank accounts. Musk had only made a reference to the crypto sector, without then creating any independent blockchain or anything similar over the years. 

However, this does not exclude that his political involvement, alongside the most pro-crypto USA President in history, could be a reason to revolutionize X and finally integrate crypto.