Key Takeaways
- The listing signals growing interest in early-stage tokens from major exchanges such as Binance.
- TON’s integration with Telegram could drive user adoption following its listing on the world’s largest exchange.
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Binance, the world’s largest crypto exchange by trading volume, has announced the listing of Toncoin (TON) on its platform.
Trading for TON will commence on August 8, 2024, at 10:00 UTC, with four trading pairs available: TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY.
The exchange has applied a seed tag to the TON listing, signaling to users that the token is in its early stages of development. Binance encourages users to conduct thorough research before engaging in trades outside its platform to avoid potential scams and ensure the safety of their funds.
Deposits for TON are now open, allowing users to prepare for trading ahead of the official launch. Withdrawals will be enabled 24 hours after trading begins, starting from August 9, 2024, at 10:00 UTC. Notably, Binance has set the listing fee for TON at 0 BNB, its native token.
Toncoin serves as the native cryptocurrency of The Open Network (TON) blockchain, originally developed by the Telegram team. It plays a crucial role in the TON ecosystem, facilitating transactions, supporting decentralized applications (dApps), and enhancing network security through staking. The TON network’s decentralized finance (DeFi) ecosystem has grown significantly, with its total value locked (TVL) surpassing $160 million.
This listing follows Binance’s earlier launch of TON futures trading on March 1, indicating growing interest and demand for the token. The addition of TON to Binance’s spot trading platform is likely to increase its accessibility and liquidity for a wider range of traders and investors.
In July, the TON blockchain launched gasless transactions through a new wallet standard.
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