Binance Announces New Trading Pairs for TON
Binance declared that its latest trading pairs- TON/BTC, TON/USDT, TON/FSUSD, and TON/TRY-will be up for trading. Users have now been given a window to deposit the digital token for trading purposes prior to the commencement of the trading of those pairs. This is a big milestone for Toncoin since it results in the coin gaining more access and potentially more trading volume, as well.
Withdrawals and “Seed Tag” Label
According to the release, withdrawals for the token will begin at 10:00 UTC on August 9. Also, in the statement, it was mentioned that the seed tag will be utilized in Toncoin. Binance had previously leading the way with TON futures trading on March 1.
Binance gives the name “seed tag” to nascent or very young cryptos that they wish to. They propose the use of a “seed tag” as an indicator of the fact that the newly minted tokens may have a slightly enhanced volatility and a multiplied chance of losses. This platform is deploying this label to inform its users about the potential risks that come with the trading of these cryptocurrencies.
Toncoin’s Market Performance
The Toncoin (TON) price enjoyed a 10% rally in June pushing it to the top 10 cryptocurrencies in terms of market capitalization. On top of this, TON’s valuation grew by more than 15% in the last week and now it has a market cap of over $15 billion.
Conclusion
The latest rise in the TON price and the fact that it is now traded on Binance were more than clear signs of the growing true confidence and interest in the crypto world. The market dynamics of Toncoin are set for more changes as the trading activity goes on which also leads to more users getting interested in it. Caution is advised to the beneficiary to be watchful of the possible dangers, particularly the “seed tag” pointing out potential volatility.
