Binance Gives Seed Label for Listing Toncoin (TON)

Bittime – Binance announced that it will list Toncoin (TON) on its platform. There there will be a “seed” label for Toncoin. What does it mean? The following is a complete explanation.

When is TON Traded?

TON trading will begin on August 8, 2024 at 10:00 UTC with four trading pairs: TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY.

Binance gave the TON listing a “seed” label, indicating that the token is still in the early stages of development.

The exchange advises users to conduct thorough research before transacting to avoid potential fraud.

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Users can Deposit TON before Trading

Users can now deposit TON to prepare for trading before the official launch.

Withdrawals will be activated 24 hours after the start of trading, namely on August 9, 2024 at 10:00 UTC. Binance sets the TON listing fee at 0 BNB.

Getting to know Toncoin (TON)

Toncoin is the native cryptocurrency of the blockchain network The Open Network (TON), which was originally developed by the Telegram team.

TON plays an important role in the TON ecosystem, facilitating transactions, supporting decentralized applications (dApps), and enhancing network security through staking.

The DeFi ecosystem on the TON network has grown rapidly, with total value locked (TVL) exceeding $160 million.

TON's listing on Binance is the latest step in the growth of the TON ecosystem. Previously, Binance had launched TON futures trading in March 2024, indicating growing interest and demand for this token.

With listing on Binance, it is hoped that TON's accessibility and liquidity will increase for more traders and investors.

Toncoin on Binance: Potential and Challenges

The listing of Toncoin (TON) on Binance is a strategic move that could have a significant impact on the TON ecosystem.

With access to one of the largest crypto exchanges in the world, TON has the potential to attract new investors and increase liquidity.

1. Toncoin Potential

• Increased Visibility: Listing on Binance will increase TON's visibility in global markets, attracting the attention of institutional and retail investors.
• Increased Liquidity: High trading volume on Binance can increase TON's liquidity, making trading more efficient.
• Wider Adoption: With easier access, adoption of TON as a means of payment and in decentralized applications (dApps) may increase.

2. Challenges and Risks for TON

• Market Volatility: Crypto prices are notorious for their volatility. TON prices can experience significant fluctuations.
• High competition: The crypto market is very competitive. TON must continue to innovate to maintain its position.
• Regulations: Regulatory changes may affect TON pricing and adoption.

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Conclusion

TON's listing on Binance is a positive step for the development of the TON ecosystem. However, investors need to understand the risks associated with investing in crypto assets.

Conducting in-depth research and diversifying your portfolio are important steps in managing risk.

How to Buy Crypto on Bittime

You can buy and sell crypto assets easily and safely via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also ensure you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. Study Complete Guide How to Buy Crypto on Bittime. 

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