Toncoin (TON) Surges 18% Following Binance Spot Listing Announcement – More Upside Ahead?

• 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.

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 own research) to fully understand the project before opting to trade the token.

Toncoin Goes Gasless, TON Elevates Web3 mini-Games

Last July, the core development team of the TON ecosystem unveiled its W5 smart wallet standard, which introduces gasless transactions to the blockchain and reduces the barrier to entry.

At that time, the team revealed that the standard would initially be limited to a few assets on Tonkeeper. In the future, the feature will be introduced to other popular TON ecosystem wallets, such as TON Space and MyTonWallet.

Furthermore, the TON user base has continued to grow at a good pace, with the TON blockchain hosting more than 11 million users in the past 30 days.

🔈 TON Foundation teams up with Cocos Studio to elevate Web3 mini-games!

Cocos Studio’s SDK has integrated with #TON, enabling Web2 developers to easily create and deploy TON-based Mini Apps. This partnership allows developers to tap into the rapidly growing TON Ecosystem and… pic.twitter.com/mIC6ZieeZD

— TON 💎 (@ton_blockchain) August 9, 2024