Toncoin (TON) Surges 12% After Binance Announces Listing the Token for Trading on August 8

Binance will list Toncoin (TON) and open trading for the following spot trading pairs at 2024-08-08 10:00 (UTC).

Toncoin (TON) price increased by 12% following the announcement that Binance will list the token for trading on August 8.

Binance announced the development about Ton on its official X page, which provides information on the various trading pairs available on its platform.

“Dear Binance Users,

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Binance will list Toncoin (TON) and open trading at 2024–08–08 10:00 (UTC) for the following spot trading pairs:

Notes:

The announcement also highlighted plans to apply a seed tag to Toncoin. Binance assigns seed tags to new and under-development cryptocurrencies.

Seed tag indicates coins that are prone to high volatility and carry more risk. It is used to warn investors about the risks involved before trading.

The Rise of Toncoin

Toncoin is Telegram's decentralized and open L1 blockchain using a community-designed technology. TON entered the Top Ten cryptocurrencies by Market Cap with a 10% increase in June.

TON rose another 15% the following week and now has a market cap of $15.7 billion.

Toncoin became a major asset during the rise of Telegram-based Web3 clicker games like Tapswap and Hamster Kombat. Toncoin is the native crypto asset of the TON blockchain where these projects are hosted and is used for gas fees and utilities.

Toncoin Price Analysis

At the time of the report, Toncoin was trading at $6.22, an increase of 9.2% in the last 24 hours, with a maximum price of $6.41 and a minimum price of $5.36.

The crypto asset is 25.3% away from the all-time high of $8.25.

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