Binance Lists Toncoin (TON), the Cryptocurrency From the Telegram Ecosystem
With an unexpected twist, the cryptocurrency exchange Binance announced this morning the imminent listing of the Toncoin (TON) coin from the Telegram ecosystem.
Binance exchange announced the listing of the Toncoin (TON) cryptocurrency from the Telegram ecosystem on its platform.
The crypto reacted well to the news, marking a price increase of over 10% in the first hours of trading on the exchange.
Meanwhile, the on-chain data of “The Open Network” network also reported increasing cryptographic activities, highlighting a growth of interest among the public.
Binance: listing the cryptocurrency Toncoin (TON)
Binance, exchange leader in the digital trading sector, announced the long-awaited listing of the cryptocurrency Toncoin (TON) on its platform.
For months, users of the Telegram ecosystem had been hoping for a listing on the Binance crypto exchanges, given the recent progress made by the entire crypto infrastructure.
Today finally TON officially becomes part of the spot investment instruments offered by the well-known exchange on 4 different trading pairs.
In particular, from 10:00 UTC, trading is open for the trading pair for TON / BTC, TON / USDT, TON / FDUSD, and TON / TRY.
The deposits were instead opened in the early hours of the day.
Binance will list @ton_blockchain $TON with Seed Tag applied. Details here ? https://t.co/q4pmNujPmp pic.twitter.com/9ZTFAA2fq8
TON has been introduced in the spot section of the exchange under the label “Seed Tag”, which labels those innovative projects where the risk of volatility is particularly high.
To exchange the currency, users must complete a short quiz (every 90 days) to confirm they are aware of the risks associated with crypto trading.
It is worth noting that users residing in Canada, Cuba, Crimea, Iran, Japan, Netherlands, North Korea, Syria, United States, and Ukraine cannot trade TON on Binance.
Copy trading for the new pair has been promptly enabled on the platform, as per standard practice for each new listing.
The Toncoin currency is not actually unfamiliar to Binance, as it has already been included in the list of perpetual futures trading under TON/USDT since March.
The integration into the spot section, however, opens up many more growth opportunities for the cryptocurrency, which can now rely on the presence of one of the most liquid and popular exchanges in the world. It is clear that the presence of Binance could make TON and its blockchain products available to millions of people around the world.
Price analysis of the crypto TON: +10% in one day
The listing of TON on Binance was accompanied by a bullish spirit from the traders of the exchange. Immediately after the announcement of the news, the price of the crypto grew by about 10%, settling around 6.4 dollars approximately.
In reality, a large part of the pump arrived in the hours leading up to the listing on Binance on other cryptocurrency exchanges in the sector.
From 10:00 UTC onwards, however, the currency grew by only about 3%, before hinting at a retracement attempt by the bears.
Thanks to the latest movement TON managed to fully recover the collapse on Monday, which had led to a 12% depreciation.
Very interesting to note how, although on almost all platforms we can observe a daily variation of 10% on TON prices, on Binance the share amounts to 40%.
This is because the exchange introduced the coin with an initial price lower than the actual market price, creating more engagement on its infrastructure.
The less attentive traders, noticing the token trending with boosted percentages, might indeed be misled and be more attracted to trade the resource.
Binance listing TON spotMarket marker opens the market lower so it has a 40% candle and trending on Binance.smells like DWF move ?
In a broader time horizon, we can ascertain how TON has recorded a strong increase in its value since the beginning of the year, marking a +167%.
Despite the fact that from June onwards the currency has seen a dip of 40% from maximum to local minimum, the situation remains overall positive.
The listing today on Binance, introducing the cryptocurrency to millions of traders, could trigger a new bull wave on the crypto of Telegram bringing it back towards the path of new all-time highs.
The state of the Ton blockchain and the Telegram ecosystem
The blockchain of TON, also known as “The Open Network” will definitely benefit from the listing of the main token of the Telegram ecosystem within the Binance exchange.
Given the popularity of the exchange, it is likely that the cryptographic network of Toncoin will see its on-chain metrics, already positive in themselves, grow further.
Currently, TON claims to have 5.8 million active wallets monthly on the chain, appearing as one of the most used blockchain networks in the world.
Exploiting the internal power of Telegram, which has 950 million users on the social media, the chain has quickly managed to create a thriving web3 activity.
The above is the detailed content of Binance Lists Toncoin (TON), the Cryptocurrency From the Telegram Ecosystem. For more information, please follow other related articles on the PHP Chinese website!
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