Binance to list Toncoin (TON) with Seed tag
Binance to list Toncoin (TON) with Seed tag
Binance has announced the listing of Toncoin (TON), a decentralized blockchain designed by the community on the basis of Telegram technology.
In a long-awaited move by the crypto community, Binance has announced the listing of Toncoin (TON) on its platform.
Spot trading for TON in pairs with Bitcoin (BTC), Tether (USDT), First Digital USD (FDUSD), and Turkish Lira (TRY) commenced on August 8, 2024, at 10:00 (UTC). Deposits for Toncoin have been opened ahead of the trading start, allowing users to prepare their portfolio. Withdrawals will be enabled on August 9, 2024, at 10:00 (UTC). Importantly, Binance has waived the listing fee for Toncoin, reflecting the exchange's support for the project's potential.
The decision to list Toncoin comes with the application of a "seed" tag, signaling the project's higher volatility and risk profile compared to other listed tokens. Users need to complete a risk-awareness quiz every 90 days to trade seed-tagged tokens, emphasizing Binance's focus on responsible trading practices.
Toncoin (TON) is the native cryptocurrency of the decentralized layer-1 blockchain, The Open Network (TON). The TON blockchain is open-sourced and supported by many network contributors, including the Switzerland-based non-profit organization, the TON Foundation. Since 2017, the Telegram team has been developing the codebase for a blockchain network, then named Telegram Open Network (TON). Since 2020, the technology has been developed by an independent community of developers and blockchain enthusiasts. The non-profit TON Foundation is the most prominent of these supporters.
At the time of writing, Toncoin is trading at $6.34 (CoinGecko).
Binance's addition of Toncoin highlights the platform's adaptive approach in the dynamic cryptocurrency market. As regulatory landscapes and market conditions continue to evolve, Binance aims to offer diverse and innovative tokens while maintaining rigorous standards of risk management and user education.
Looking forward, the listing of Toncoin could attract investors interested in high-risk, but high-reward opportunities. As the crypto market develops, Binance's proactive measures in user education and risk management may serve as a model for the industry.
See also: The evolving portrait of cryptocurrency owners – Binance research
