Binance is set to list Toncoin (TON) and open trading for four new spot trading pairs on Thursday, as activity on the TON blockchain surges. The exchange will launch trading for TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY.
Binance announced today that it will list Toncoin (TON) and introduce four spot trading pairs starting at 10 a.m. UTC on Thursday. The new pairs will include TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY. Users can begin depositing TON to Binance in advance of the listing, with withdrawals scheduled to open at 10 a.m. UTC on Friday. Notably, the listing fee for TON is set at 0 BNB.
As part of its listing process, Binance will apply a seed tag to TON, which requires users to pass periodic quizzes on the Binance spot platform every 90 days to access trading of the token. This measure aims to ensure that users understand the risks associated with trading higher-volatility tokens.
Binance noted, “TON is a new listed token that poses a higher than normal risk, and will likely be subject to high price volatility. Users must exercise sufficient risk management and DYOR (do your own research) to fully understand the project before opting to trade the token.”
Seed tags are applied to “innovative projects” that may show higher volatility and risks compared to other listed tokens. The tags may be removed over time based on factors such as trading volume, liquidity, development activity, and project responsiveness.
Residents of Canada, Cuba, Crimea, Iran, Japan, the Netherlands, North Korea, Syria, the U.S., and Ukraine will not be eligible to trade these pairs.
Binance previously launched TON/USDT perpetual futures trading in March, highlighting its ongoing interest in the TON blockchain.
TON Blockchain’s Rapid Growth
The TON blockchain has seen significant growth, with claims of 5.8 million monthly active on-chain wallets. This expansion is partly due to its integration with Telegram, which boasts a user base of 950 million.
In February, Telegram introduced ad revenue sharing, paying out revenue in TON tokens. Additionally, Tether’s USDT stablecoin launched on the TON network in April, with its supply quickly exceeding $500 million.
The recent surge in activity is attributed to popular Telegram mini-games such as Notcoin, Hamster Kombat, Yescoin, and Catizen.
These games have boosted the seven-day moving average of TON daily active addresses to over 444,000 as of August 7, according to data from The Block. The tap-to-earn games offer in-game currencies that may be converted into real token airdrops on the TON network, further fueling interest and activity.
