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Toncoin (TON) experienced a 12% increase on Thursday after Binance announced that the token would be available for trading starting on Aug. 8.
Binance disclosed that the new spot trading pairs—TON/BTC, TON/USDT, TON/FSUSD, and TON/TRY—will be accessible for trading. Users can now deposit the token in anticipation of trading these pairs.
Withdrawals for the token are set to begin on Aug. 9 at 10:00 UTC. Furthermore, the announcement stated that a “seed tag” will be assigned to Toncoin. Binance had previously launched TON futures trading on March 1.
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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
Binance designates the “seed tag” to cryptocurrencies that are in the early stages of their development. This label serves to indicate that such coins may show increased volatility and involve higher risks. The exchange uses this tag to inform users about the potential dangers associated with trading these cryptocurrencies.
Toncoin (TON) rose over 10% in June, elevating it into the top 10 cryptocurrencies by market capitalization. Continuing this trend, TON’s value increased by 15% in the previous week, and it currently holds a market capitalization of approximately $15 billion.
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