Crypto traders slowly forgot about the TET coin due to slow price action in recent months, but one thing’s certain: this project has big fundamentals behind it. Tectum price actually pumped 60% in the last 7 days and 30% today.
The TET price touched daily high of around $8.6 level before correcting to the current levels – slightly above $8. So, what’s driving the surge?
Apple’s NFC Chip Opening: A Game-Changer for Tectum
The recent price movement appears to be closely tied to exciting news in the mobile payment space. On August 14, 2024, Bloomberg reported that Apple is set to unlock its tap-to-pay function, allowing third-party developers to integrate alternative payment options using the iPhone’s NFC chip.
This development, slated for mid-September with the iOS 18.1 update, opens up new possibilities for payment solutions like Tectum’s Softnote Pay.
Source: CoinMarketCap/Tectum Softnote Pay: Positioned for Growth
Tectum’s Softnote Pay, a virtual card internal payment system, stands to benefit from Apple’s decision. Here’s why:
Global Accessibility: Unlike many payment gateways, Softnote Pay is available worldwide, making it an attractive option for iPhone users in regions where Apple Pay isn’t supported.
Low Fees: Softnote Pay boasts transaction fees capped at $1, potentially offering savings compared to traditional payment methods.
Merchant-Friendly: With a mere 0.1% commission for merchants, Softnote Pay could become an appealing option for businesses looking to reduce transaction costs.
Crypto Integration: Softnote already supports major cryptocurrencies like Bitcoin, Ethereum, and Tether USD, with plans to integrate more in the future.
Read also: Why TRON (TRX) Price Has Been Pumping This Week
Tectum’s Technological Edge
What sets Tectum apart in the crowded crypto payment space is its impressive technological capabilities. Recent blockchain speed tests have demonstrated that Tectum SoftNote can easily handle transaction volumes on par with regular banking systems.
The network’s ability to process transfers instantly is a game-changer, but even more impressive is its capacity to support up to 3.5 million transactions per second. This level of scalability positions Tectum not just as a crypto payment solution, but as a potential partner for traditional payment gateways looking to expand their capabilities and handle larger transaction volumes.
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The Tectum team has expressed openness to collaborating with established financial players, suggesting a forward-thinking approach that could bridge the gap between conventional and crypto payment systems.
All in all, it’s clear that the project’s innovative payment solutions are garnering attention. The possible integration of Softnote Pay with iPhone’s NFC capabilities, combined with Tectum’s robust technological foundation, could dramatically increase its utility and adoption, likely contributing to the recent surge in TET price.
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