💎 USDT on TON: Why it matters and what was before?

Last week, Pavel Durov, Andrey Rogozov, and Paolo Ardoino officially announced USDT on TON. For active network participants, this news was not a surprise — rumors about the stablecoin had been circulating for months. However, it’s crucial to understand what exactly happened and how this event will impact the ecosystem.

⚫️ USDT by Tether is one of the most popular stablecoins in the cryptocurrency world. Its price is directly tied to the US dollar, and its creators claim that each unit of this asset is backed by currency reserves: cash, bank deposits, and loans issued by partner companies of Tether Limited.

⚫️ Previously, TON users only had access to jUSDT — a wrapped token from Ethereum or Binance Smart Chain. You could lock USDT from these networks through the bridge.ton.org website and receive jUSDT in your TON wallet, paying a fee. However, the simplest way to acquire jUSDT was, of course, through pairs on DEXs.

⚫️ The official launch now allows direct purchases of USDT, and the low transaction costs and access to the Telegram audience could potentially encourage the crypto community to use USDT specifically throug TON. Most popular exchanges have already added the stablecoin to their platforms. Currently, Tether has minted 130 million coins, and by TON Gateway in November, this figure is expected to reach 1 billion USDT.

⚫️ Many are surprised by the drop in TON’s price despite the plethora of good news, but there’s nothing unusual here. The hype in the ecosystem peaked during TOKEN2049, with users prepared for the appearance of USDT and expecting active selling of Toncoin to start immediately after the speakers’ presentation. The most impatient began dumping their coins even while Pavel Durov was on stage, triggering a chain reaction.

The nature of the news itself is also important, as it was specifically a stablecoin on TON that was announced, making it easier to lock in profits, so the drop in price was just a matter of time.

@thedailyton