The post Toncoin (TON) Jumps 18% After Binance Spot Listing appeared on BitcoinEthereumNews.com.

Binance’s listing of Toncoin would bring significant liquidity to the altcoin while allowing users to deposit TON to trade against BTC, USDT, FDUSD, and TRY. The TON ecosystem has seen substantial growth in 2024, driven by the increasing popularity of TON-based clicker apps accessible via Telegram. Toncoin (TON), the native cryptocurrency of the TON ecosystem, has been on investors’ radar. The TON ecosystem saw strong retail adoption this year in 2024. As a result, the TON-based clicker apps accessible through the widely used instant messaging app Telegram are growing in popularity. In the latest development, crypto exchange Binance announced its plans to list the TON cryptocurrency for spot trading, per the CNF report. On Thursday, August 8, Binance announced that it would list the TON crypto for spot trading purposes. This is a massive development as the listing will usher in a lot of liquidity for the altcoin, with Binance being one of the largest crypto exchanges by trading volumes. Per the exchange’s announcement, users can now deposit TON to trade against BTC, USDT, FDUSD, and TRY. Withdrawals are set to open on Friday, August 9. 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 However, Binance added that it would list the TON cryptocurrency using a seed tag. This is basically a label applied to cryptocurrencies that tend to show higher “volatility and risks” in comparison to other listed assets. Furthermore, in order to trade TON, Binance users need to pass a quiz on the perceived risk of the asset every 90 days. The exchange noted: TON is a new listed token that poses a higher than normal risk, and will likely be subject to high price volatility. Users must exercise sufficient risk management and DYOR (do your…

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Filed under: News - @ August 10, 2024 1:08 pm