Toncoin (TON) has just reached a new milestone with a notable listing on the Binance platform, causing its price to jump 18% in just a few hours.
From memecoins like DOGE and SHIB to NFT marketplaces like OpenSea, in every crypto market cycle, some projects drive a new wave of retail crypto adoption. During this cycle, the TON ecosystem has emerged as one of the retail adoption drivers with the rising popularity of TON-based clicker apps accessible via the widely used instant messaging app Telegram.
As interest in the TON ecosystem grows, so has support from leading exchanges like Binance. After launching futures trading support for Toncoin (TON) in March 2024, Binance has now announced plans to list the asset for spot trading, sending its price soaring.
The Binance Listing: A Springboard for Toncoin (TON)
Amid a largely quiet market, TON has surged about 18% from lows around $5.4 to highs of about $6.4 in the past few hours. The trend-defying move follows a Thursday, August 8, Binance announcement to list TON on its spot market in a move that many believe will drive the adoption of the asset by making it more easily accessible.
The exchange disclosed that due to the listing, users could now deposit TON for trading against BTC, USDT, FDUSD, and TRY, with withdrawals to open on Friday, August 9.
Still, Binance noted that TON will be listed with a seed tag, a label the exchange applies to assets it believes to exhibit “higher volatility and risks” than other listed assets. As such, to trade TON, users would be required to pass a quiz on the perceived risk of the asset every 90 days.
[Source: Dailycoin]
