Listing TON on the Largest Crypto Exchange, Can Price Break ATH?

Bittime – The price of TON has risen since it was announced that it would be listed on Binance. The announcement of TON's listing on the largest crypto exchange is indeed good news for TON coin holders. What is the complete explanation? Read this article until the end.

TON Listing Has Started

Binance announced plans to add Toncoin (TON) to its list of tradable assets. This listing will begin on August 8, 2024, at 10:00 UTC.

Available trading pairs include TON/BTC, TON/USDT, and TON/FDUSD. This decision follows the launch of TON futures trading on Binance on March 1.

Often, when a new crypto asset will be listed on Binance, its price will experience an increase. This phenomenon, sometimes referred to as the “Binance effect,” occurs primarily because of the exchange's dominant position in the crypto market.

As the world's largest crypto exchange, listing on Binance could drastically increase the token's exposure and accessibility to its broad user base.

Read Also: TON Price Skyrockets, This is the 2024 Toncoin Price Prediction!

TON Price Increases Significantly

The latest data from CoinMarketCap shows that the price of TON rose 9% within minutes of the announcement, surpassing the $6 mark. However, Toncoin still needs to move up to reach its 2024 high of $8.

Summer: Over

On Bittime, the price of TON also increased by +1.3% so that it is now trading at IDR 103,388. This is a good increase in the last 24 hours.

Previously, TON was at IDR 104,726 as its highest price. Volume in the last 24 hours of TON was 71,044,400 in rupiah.

Ripple Price Also Rises

Although this news is positive for TON, it seems that the market is currently cautious. This cautious mood comes after Ripple's latest win against the SEC.

Although the price of XRP jumped 20% after the news, the crypto market as a whole has not shown any significant movement.

Given these market conditions, it may be unrealistic to expect a dramatic spike in TON prices today. Crypto markets often move in mysterious ways, and factors beyond a single listing can influence price movements.

Crypto Markets Remain Volatile

The listing of Toncoin (TON) on Binance has indeed had a significant impact on the price of this token. A 225% increase in trading volume also occurred after listing on Binance. This shows increased interest in TON from investors.

However, keep in mind that the crypto market is still volatile. Despite the price increase, Toncoin still has the potential to experience a correction or consolidation before continuing the bullish trend.

Baca Also: Cat Gold Miner Giveaway 50 TON, Rayakan Listing Toncoin

Factors that Influence TON Prices

Several factors that can influence the next TON price are:

• Market sentiment: Overall crypto market conditions will influence TON price movements.
• TON technology adoption: The more applications and projects built on the TON network, the higher the potential for price growth.
• Competition: Competition with other tokens in the ecosystem can affect TON's performance.

Investors are advised to conduct in-depth analysis before making an investment decision and consider the above factors.

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. 

Monitor graphic movement of Bitcoin (BTC) price, Ethereum (ETH), Solana (SOL), and other cryptos to find out today's crypto market trends in real-time on Bittime.