Binance Lists Toncoin

Binance is set to list Toncoin (TON) and open trading for four spot pairs at 10 a.m. UTC on Thursday.

New Spot Trading Pairs

The new spot trading pairs are TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY, as announced by the crypto exchange.

Users can deposit TON to Binance ahead of the listing, while withdrawals will open at 10 a.m. UTC on Friday. The TON listing fee is 0 BNB.

Seed Tag Requirement

A seed tag will be applied to TON, necessitating that users pass quizzes every 90 days on the Binance spot platform to retain access to trading these tokens. These quizzes are intended to ensure that users understand the risks involved, as TON is classified as a new token with higher-than-normal risk and potential price volatility. Binance urges users to exercise due diligence (DYOR) before trading this token.

Eligibility and Trading Restrictions

Users from Canada, Cuba, Crimea, Iran, Japan, the Netherlands, North Korea, Syria, the U.S., and Ukraine cannot trade the pairs.

Historical Context

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

TON Blockchain’s Growth Amid Telegram Mini-Game Craze

The TON blockchain reports 5.8 million monthly active on-chain wallets, benefiting greatly from its partnership with Telegram, which claims approximately 950 million users.

In February, Telegram introduced ad revenue sharing, dividing profits with channel owners 50/50, paid out in TON through the network.

Tether launched its USDT stablecoin on the TON network in April, granting TON users access to the dollar-pegged stablecoin, with its supply surpassing $500 million.

The recent popularity is attributed to successful Telegram mini-games such as Notcoin, Hamster Kombat, Yescoin, and Catizen, which have seen the seven-day moving average of TON daily active addresses exceeding 444,000 as of August 7. These games allow users to earn in-game currencies that may convert into real token airdrops.

Toncoin has surged into the top ten cryptocurrencies by market cap this year, currently valued at $15.8 billion, more than doubling since the start of 2024.