Binance set to list Toncoin spot trading pairs amid a surge in TON blockchain activity

Binance is set to list Toncoin (TON) and open trading for four new spot pairs at 10 a.m. UTC on Thursday. The trading pairs will include TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY.

Users can start depositing TON to Binance before the listing, with withdrawals scheduled to open at 10 a.m. UTC on Friday. Notably, the listing fee for TON is 0 BNB.

Binance will apply a seed tag to TON, requiring users to complete quizzes every 90 days to access trading. This measure aims to ensure users are aware of the risks associated with trading newly listed tokens. The exchange warns that TON may experience higher price volatility and advises users to exercise caution and conduct thorough research.

The seed tag is applied to innovative projects that may exhibit greater volatility and risks compared to other tokens. Tags may be reviewed and potentially removed based on trading volume, liquidity, development activity, network stability, and responsiveness to due diligence.

Previously, Binance introduced TON/USDT perpetual futures trading in March.

The TON blockchain has experienced rapid growth, partly driven by its integration with Telegram, which boasts around 950 million users. The blockchain now supports 5.8 million monthly active on-chain wallets. Telegram’s ad revenue sharing, paid in TON, and the launch of Tether's USDT stablecoin on the network have further boosted its adoption.

Recent success is attributed to popular Telegram mini-games like Notcoin, Hamster Kombat, Yescoin, and Catizen, which have led to a significant increase in daily active addresses. As of August 7, the seven-day moving average of TON's daily active addresses exceeded 444,000.

Toncoin has risen to become a top ten cryptocurrency by market cap, currently valued at $15.8 billion, reflecting more than a doubling in value since the beginning of 2024.

Source: https://www.theblock.co/post/310222/binance-toncoin-ton-spot-trading