- Though there hasn’t been an official listing announcement, monitoring robots have seen Binance launch a new Toncoin (TON) port.
- The price of TON rose by 2.31% in a single day but fell by 4.05% in the last seven days.
Robots that monitor the market noted today that Binance had introduced a new Toncoin (TON) port. This finding is regarded as a first prediction and was obtained using interface monitoring.
Notably, this data by itself does not guarantee a final Binance listing. Toncoin had already said that he and Binance had a confidentiality agreement that forbade the release of more information.
No formal statement has been released yet; the information was obtained from the official API. To find out whether Binance formally lists TON, the market will therefore have to wait.
#Binance Wallet New Coin
Symbol: TON
Name: Toncoin
Networks: ToncoinCrawled at: 2024-05-22T17:04:27Z
— CoinDance (@CoinDance_cc) May 22, 2024
Movement of the Toncoin Price and Market Data
CoinMarketCap reports that the current value of one Toncoin (TON) is about $6.42. Over the previous 24 hours, this is a rise of 2.31%. Notwithstanding this brief increase, Toncoin has dropped by 4.05% in the last seven days.
These swings suggest turbulence in the TON market, and investors are keeping a careful eye on any official Binance releases that can affect the price even more.
As ETHNews has reported, timely DeFi efforts have strengthened the Toncoin network. Reaching about $200 million in Total Value Locked (TVL), the Open League and other DeFi initiatives have made TON Network a much larger network. This significant event demonstrates the potential and expanding use of Toncoin in the DeFi space.
Possibilities of the Binance Listing
Should Binance formally list Toncoin, the market performance of the cryptocurrency may be significantly impacted. Being among the biggest cryptocurrency exchanges in the world, Binance would probably boost TON’s exposure and liquidity.
More investors may be drawn to this possible listing, which would raise demand and maybe cause a price spike. But the market is still speculative till an official statement is released. Let’s wait and see.