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Bitget Wallet Launches OmniConnect Dev Kit, Bridging A Billion Telegram Users to Multichain Web3 Ecosystem

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4 hours ago

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Bitget Wallet has officially launched OmniConnect, a groundbreaking software development kit (SDK) designed to enhance the integration of Telegram Mini-Apps with multichain ecosystems. This innovative tool allows developers to connect their applications to over 500 blockchains, including major networks like Solana and EVM-compatible chains, enabling seamless transaction signing and execution across multiple platforms. This launch is poised to transform Telegram, which boasts over a billion users, into a robust gateway for Web3 interactions.

Bitget Wallet Bridges Telegram and Web3

The introduction of OmniConnect represents a significant advancement in the synergy between Web3 and Telegram. Previously, Telegram Mini-Apps were limited to interactions within the TON network, restricting their utility. With OmniConnect, developers can now leverage Bitget Wallet to facilitate transactions across various blockchain networks, thereby broadening the scope of applications available to users. This move aligns with Bitget Wallet’s mission to onboard a billion users from social platforms into the Web3 ecosystem.

Alvin Kan, COO of Bitget Wallet, emphasized the importance of this development: “Previously, Telegram Mini-Apps could only interact with the TON network, making it difficult to engage with other public chains. Bitget Wallet’s OmniConnect aims to bridge this gap.” The integration not only simplifies user interactions but also enhances the overall experience for developers looking to create innovative applications that tap into the growing Web3 landscape.

Bitget Wallet’s Growing Presence and Expansion of Developer Opportunities

Bitget Wallet has already established a strong presence within the Telegram ecosystem by partnering with notable projects such as Tomarket and Catizen. These collaborations have allowed Bitget Wallet to offer unique features like trading bots for Telegram and multi-chain trading capabilities without gas fees on TON DApps. The wallet’s popularity is evident, with nearly 2 million downloads recorded in August 2024 alone, making it one of the most downloaded wallets globally.

As part of its broader strategy, Bitget Wallet aims to empower developers and enhance the Mini-App ecosystem on Telegram. Future initiatives are expected to further deepen this integration, providing additional tools and resources for developers while expanding access for users. With over 30 million global users, Bitget Wallet continues to innovate by offering features like its MPC keyless wallet for secure logins through familiar methods such as email and Google accounts.

Developers interested in utilizing OmniConnect can find detailed instructions and documentation at Bitget’s official developer portal. This resource will guide them through integrating their Mini-Apps with Bitget Wallet, ensuring a smooth transition into the multichain environment.

In addition to OmniConnect, Bitget Wallet is committed to driving mass adoption of Web3 technologies by simplifying access through its all-in-one platform. The wallet integrates various functionalities including trading directly within the app and connecting social features with multi-chain ecosystems. Kan stated, “Our goal is to be the gateway for mass Web3 adoption, making it easy for even non-Web3 users to access DeFi and blockchain games.”

The launch of OmniConnect not only enhances the capabilities of Telegram Mini-Apps but also marks a pivotal moment in bridging traditional social media platforms with decentralized technologies. As more developers leverage this SDK, users can expect a richer array of applications that facilitate easier access to Web3 services.

Conclusion

Bitget Wallet’s OmniConnect SDKis poised to transform the way Telegram users engage with blockchain technology. Bitget Wallet is making great progress towards establishing a welcoming and user-friendly Web3 environment by enabling smooth connection between different chains and boosting developer functionalities. As this ecosystem develops further, it will surely bring in more users with traditional backgrounds into the realm of decentralized finance and more.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Bitcoin Price Hits $65K Since August, Will BTC Reach $80K in Uptober?

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8 hours ago

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September 27, 2024

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The Bitcoin price has hit $65,000 for the first time since early August, thanks to several recent developments that provide a bullish outlook for the flagship crypto. These developments are also why there is the belief that this BTC rally can extend, with its price rising to $80,000 in Uptober, a term used to describe Bitcoin’s bullish nature in October.

Bitcoin Price Can Reach $80,000 In Uptober

Several factors support the Bitcoin price reaching $80,000 in October. One is the macro side, which has provided a major boost for the crypto market, with investors again allocating a significant amount of their capital to risk assets. These macro developments began with the US Fed rate cuts last week when the Federal Reserve cut interest rates by 50 basis points (bps).

This week, the People’s Bank of China (PBoC) also announced interest rate cuts and stimulus policies to improve the country’s economy. CoinGape reported that that move was bullish for BTC, noting that the Bitcoin price targets $100,000 following China’s stimulus package and its crypto trade with Russia.

Meanwhile, the latest US GDP data and jobless claims showed that the US economy is healthy, supporting the Fed’s move to cut interest rates by two more 25 bps this year. These world governments will continue adopting monetary easing policies to boost their economies.

In line with this, more liquidity will flow into the BTC ecosystem in October. A Coingape report states that this market liquidity will aid Bitcoin’s surge, which is one of the reasons why its price is likely to keep rallying in October. 

From A Historical And Technical Perspective

From a historical and technical perspective, the Bitcoin price also looks poised to rally to $80,000. Coinglass data shows that October has been one of the most profitable months for BTC in the last eight years.

For context, the flagship crypto has only recorded monthly losses once in October over this period. Moreover, Bitcoin’s gains in October have been double digits. The only time the crypto recorded a single-digit gain was in 2022 when it closed the month with a 5% gain.

In his recent analysis, crypto analyst Jelle suggested that Bitcoin can reach $80,000 in October. The analyst noted that the market structure is now bullish, considering that BTC has breached the $65,000 resistance level. The analyst’s accompanying chart showed that $80,000 was the price target as the flagship crypto continues its uptrend.

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Market Volatility Ahead Of October

A lot could still happen between now and Uptober, with the Bitcoin price gearing up for heavy market volatility. CoinGape reported that 89,027 Bitcoin options will expire today, with a notional value of $5.8 billion. The put-call ratio is $0.64, which suggests a bullish sentiment ahead.

The US Core PCE inflation data is also set to be released today by 1:30 p.m. UTC. This could also spark a lot of volatility for the BTC price. The current forecast is that the PCE price index rose by 0.2% in August.

For now, $65,000 remains the key level that Bitcoin bulls must defend if the BTC rally is to extend. Crypto analyst Ali Martinez revealed that 57.77% of Binance users with open positions are currently shorting BTC. This is also something to watch out for, although Bitcoin is currently on course to record its most profitable September ever, having surged by over 10% this month.

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At the time of writing, the BTC price is at around $65,400, up over 2% in the last 24 hours. Trading volume is up over 57%, with $39 billion traded during this period.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Shiba Inu FOMO Kicks In With 23% SHIB Price Surge, What’s Next?

Published

12 hours ago

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September 27, 2024

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The world’s second-largest meme coin Shiba Inu (SHIB) has once again triggered a storm in the crypto space with 23% gains in the last 24 hours and moving closer to $0.0000191. Interestingly, the SHIB Price surge comes along with a 240% surge in the daily trading volumes, above $1.36 billion, reminiscent of the 2021 mega bull run.

Shiba Inu FOMO Kicks In Again

Crypto analytics platform Santiment reported that the Shiba Inu has experienced a major surge of 43% in the last nine days amid the heightened on-chain activity. Key metrics behind this rally include the strong volume spurt, strong SHIB circulation, and the SHIB whale transactions that have surged to 10-week highs. Besides, with the increase in the SHIB social dominance, there’s a strong FOMO (fear of missing out) kicking-in among the traders.

Courtesy: Santiment

Furthermore, the Santiment data suggested that the sharp price rise could lead to the potential for a local top. As of press time the Shiba Inu price is trading at $0.00001901 with a market cap of $11.3 billion making it the 13th largest cryptocurrency in the market. For the SHIB Price to hit the February high of $0.000043, the bulls need a breakout above $0.000020 with strong trading volumes. 

Derivatives data for the world’s second-largest meme coin also shows strength with the open interest surging by 65% all the way past $60 million. Further, the Coinglass data shows that the 24-hour Shiba Inu liquidations have surged to $2.23 million, of which, $1.29 million are short liquidations. Also, the chart below shows a strong surge in the funding rate, showing bullish sentiment among SHIB futures traders.

Courtesy: Coinglass

SHIB Price Rally to Continue?

As said, if the bulls manage a SHIB Price breakout above $0.20, there’s potential for another 100% rally immediately thereafter in a few weeks. However, investors are curious about whether the meme coin can replicate a 2021 bull run, which surged by 45000% between January and May.

There have been calls for the Shiba Inu rally to $1, however, this would need an exponential volume spurt. Additionally, despite the burn effort, there are trillions of SHIB still in circulation which would make it difficult for such a massive rally.

On the other hand, the SHIB ecosystem has continued to make progress on the SHI stablecoin launch. Furthermore, the total value locked (TVL) on Layer 2 network Shibarium has surged to a new high of $3.64 million.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance Executive Tigran Gambaryan’s Release Pushed By US Panel

Published

16 hours ago

on

September 27, 2024

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The U.S. House Foreign Affairs Committee has passed a resolution demanding the immediate release of Tigran Gambaryan, the head of financial crime compliance at Binance. Gambaryan, a former U.S. Internal Revenue Service agent, was detained by Nigerian authorities in February, along with another Binance executive, amid allegations of illegal financial activities by the exchange. The resolution, voiced unanimously, marks a step by the U.S. government in addressing this humanitarian concern.

U.S. Demands Nigeria Free Binance Executive Amid Health Crisis

Tigran Gambaryan alongside Nadeem Anjarwalla, another executive from Binance, faced arrest after their arrival in Nigeria, under accusations related to illegal transaction. The charges against Gambaryan were filed on February 28, with Anjarwalla escaping custody in March. 

The health condition of Gambaryan, who suffers from a herniated disk and pneumonia, has prompted urgent calls from U.S. officials. The resolution, introduced by Republican Reps. Rich McCormick and French Hill, demands Gambaryan’s freedom and insists on providing him unrestricted medical care.

Legislative Support and International Diplomacy

During a session marked by a unanimous voice vote, the U.S. House Foreign Affairs Committee approved H.Res. 1348, urging the Nigerian government to release Gambaryan immediately. The resolution also requests the U.S. State Department to intensify efforts to declare Gambaryan “wrongfully detained” and mobilize all resources to secure his freedom. 

Following its approval by the committee, H.Res. 1348 is set to be presented to the full House for a vote. During the discussions, top Democrat of the committee, Rep. Gregory Meeks, expressed disappointment with Nigerian authorities. Gregory criticized the lack of response from the Nigerian government despite repeated communications.

In addition, Binance recently linked the resolution of Gambaryan’s case with its terms to comply with Nigeria’s Securities and Exchange Commission’s framework for Virtual Assets Service Providers. The crypto exchange has set clear conditions, including Gambaryan’s release, before it considers registration under this new regulatory framework. 

More so, the crypto community is closely monitoring the situation, especially with the upcoming release of Binance founder Changpeng Zhao, set for September 29, 2024. These events could influence the exchange directions and its compliance with international regulatory standards.

Despite the challenges, Binance has seen a 40% increase in institutional investors this year, signaling strong ongoing interest in crypto assets amid regulatory setbacks. 

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Ronny Mugendi

Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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