Toncoin (TON), the native cryptocurrency of The Open Network, was listed on the Binance exchange on August 8, 2024.

The spot trading pairs already available on the platform are : TON/BTC (bitcoin), TON/USDT, TON/FDUSD (First Digital USD) and TON/TRY (Turkish lira).

In this context, the price of the digital asset has risen and in the last 24 hours it has registered a rise of 15% . At the time of publication of this note, its price is 6.28 dollars.

Binance said that this asset has the seed label because it is an “innovative project” that “may exhibit greater volatility and risks compared to other listed tokens.”

However, it should be noted that this is a years-old project, which is in the top 10 cryptocurrencies, has multi-million dollar investments and ties to the messaging app Telegram and the company Tether.

TON Network Growth
The inclusion of this token in Binance occurs in the midst of significant growth of The Open Network (TON, the same acronym as its cryptocurrency ). As CriptoNoticias reported, there have been recent developments, alliances and functionalities within this ecosystem that have favored TON.

The network is characterized by its ability to execute smart contracts and operates on the proof-of-stake (PoS) consensus algorithm. It hosts hundreds of applications, wallets , DeFi protocols , and video games.

Above all, it is widely used in Telegram since it offers the possibility of running games such as Notcoin and Hamster Kombat.

In April 2024, the USDT stablecoin issuer Tether expanded to the TON network.

The integration was intended to “facilitate a seamless transfer of value” between users of the TON ecosystem and other networks, providing a “fast, secure and cost-effective process,” it was reported at the time.

Within two months of its launch on this network, more than 500 million USDT were issued. This is the fastest growth in Tether’s history. They also indicated:

“Sending digital dollars to anyone, anywhere, as easily as sending a text message is a reality for people all over the world. What’s more real than that?”

The Open Network Communications Team.
According to data from DefiLlama, the TON network hosts more than $600 million in deposited money, distributed across different protocols and dApps with cryptocurrencies and tokens.