Binance, the biggest centralized crypto exchange has announced that the Toncoin (TON) listing will go live on the exchange today at 10:00 UTC. With this listing, users will be able to start spot trading TON with other listed pairs.
Binance will list @ton_blockchain $TON with Seed Tag applied. Details here 👉 https://t.co/q4pmNujPmp pic.twitter.com/9ZTFAA2fq8
— Binance (@binance) August 8, 2024
Toncoin is the native network cryptocurrency of the TON decentralized ecosystem. It aims to enable fast payment settlement, easy-to-use decentralized applications, small fees, and other positives offered by its layer-1 independent blockchain. TON’s layer-1 operates on its blockchain and not atop another independent blockchain, such as the Ethereum Network.
Toncoin is the network currency for the TON network and is used in staking within the Proof-of-Stake (PoS) consensus mechanism, which protects the TON blockchain. Toncoin is known by its token ticker $TON. The current price of Toncoin is updated and available in real time on Binance.
Spot Trading & TON Price Impact
The following are the new spot trading pairs: TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY.
Remember, the coin has been listed with a Seed Tag. Seed tags represent innovative projects that may exhibit higher volatility and risks than other listed tokens. Withdrawals for the token will commence on Aug. 9 at 10:00 UTC. Following the news made by Binance on Thursday, the value of TON increased by 9.06% to $6.26. In the week prior, the price of TON increased by 15%, and it is today valued at approximately $15 billion market cap. The 24-hour trading volume of TON has also surged 112.15% to $702 million, reflecting a major rise in investor interest.
