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Stablecoin issuer Tether has announced that its United Arab Emirates dirham-pegged stablecoin will be launched on The Open Network (TON) blockchain. 
At the TON Gateway event held in Dubai, Alessandro Giori, Tether’s senior strategic partnership manager, announced that its dirham stablecoins, announced earlier this year, will be launched on the TON blockchain. 

On Aug. 21, Tether announced that it is working with the UAE’s Phoenix Group and Green Acorn Investments to launch a dirham-backed stablecoin. The collaboration aims to establish a digital representation of UAE dirhams, fully backed by liquid UAE-based reserves. 
In a press release, Tether said that it would ensure that every dirham-pegged token is “tied to the value of the AED” and will provide stability and confidence to its value. 
USDT’s growth on TON
On April 19, at the Token2049 event in Dubai, Tether CEO Paolo Ardoino, Telegram founder Pavel Durov and The Open Platform CEO Andrew Rogozov announced that USDt USDTUSD would go live on the TON blockchain. 
Since its launch on the blockchain, Giori said at the TON Gateway event that TON is the fastest blockchain to ever reach 1 billion USDT. The executive told the audience that USDT on the TON blockchain reached the milestone within six months of its launch. 

Giori said there are 160,000 USDT transactions on TON per day and 7.6 million wallets using USDT on the TON blockchain. He added that there are more than 100 crypto platforms that have integrated USDT based on the TON blockchain. 
Giori also announced that USDT on TON will also be available on the digital asset platform Fireblocks. “This means that all the companies that are using Fireblocks are now entering the ecosystem, and more and more people are using USDT on TON,” Giori added. 
UAE approves licensing system for stablecoins
The new development follows the UAE’s decision to approve a licensing framework for stablecoins. On June 3, the UAE’s leaders approved issuing regulations for overseeing and licensing stablecoins. The new regulations would give regulatory clarity on the issuance, licensing and supervision of dirham-backed payment tokens. 
On Oct. 18, a UAE-based stablecoin issuer called AED Stablecoin managed to get an in-principle approval from the UAE’s central bank. If the company gets full approval, it can deliver a regulated dirham-pegged stablecoin in the UAE. 

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---$GOAT

🚨 GOAT/USDT Analysis: A Breakout in Sight! 🚀

We are currently seeing an exciting development in GOAT/USDT on the 4-hour chart, with a strong +12.10% increase in price, currently sitting at $0.5831. Let's break down the situation and understand what might be coming next.

🔍 Technical Analysis:

GOAT/USDT has been moving within a descending channel for a while now, showing signs of consolidation. The good news is that it seems ready to make a potential breakout. This pattern often indicates a bullish reversal, with the price set to rally upward once it breaches the upper trendline of the channel.

Resistance Zones:

The first immediate resistance is around $0.5840 (the yellow line), which GOAT/USDT is currently testing. If this level is breached, we can expect a move towards $0.60, a psychological round number.

Beyond that, the main target is $0.88, marking a major resistance area.

Support Zones:

On the downside, we are looking at $0.5118 (marked as the lower support on the chart), which has proven to be a strong support level in recent sessions. As long as this level holds, the bullish outlook remains intact.

🧠 What Could Happen Next?

Bullish Scenario:
If GOAT/USDT successfully breaks through the upper boundary of the descending channel (around $0.58), we could see it moving swiftly towards the next resistance at $0.60, followed by the key zone around $0.88. Traders should look for volume confirmation to ensure the breakout is sustainable.

Bearish Scenario:
Should GOAT fail to break above the current resistance level and fall below the $0.5118 support, we could see it retesting lower levels, potentially moving back into the descending channel. A break below the support would invalidate the bullish setup and may lead to further downside.

📉 Risk Management:

It's important to set clear stop losses in case the breakout does not materialize as expected. I recommend setting a stop-loss below the $0.51 level to limit any downside risk if the market reverses.

🎯 Target Zones:

1. Short-term Target: $0.60

2. Medium-term Target: $0.70

3. Long-term Target: $0.88

🔑 Conclusion:

GOAT/USDT is at a crucial point in its trend, with a potential breakout offering traders an opportunity to catch a strong upward movement. Keep a close eye on the $0.58 level for confirmation of the breakout, and watch for volume to increase, signaling a bullish continuation. Remember to manage your risks carefully, and as always, trade smart.

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What’s your take on GOAT/USDT? Are you ready to ride this potential breakout? Let’s discuss in the comments below! 💬

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