Toncoin (TON) saw its price jump 12% on Thursday after Binance announced that the token will start trading on August 8. Binance revealed that new trading pairs will be available for Toncoin, including TON/BTC, TON/USDT, TON/FSUSD, and TON/TRY. Users can now deposit Toncoin in preparation for these trades.
Withdrawals for Toncoin will begin on August 9 at 10:00 UTC. Binance also stated that Toncoin will receive a “seed tag,” indicating it’s still in the early stages of development and might be more volatile and risky. The exchange introduced futures trading for Toncoin on March 1.
The “seed tag” is used by Binance to warn traders that the cryptocurrency could experience higher fluctuations and risks.
Toncoin’s price had previously surged over 10% in June, placing it among the top 10 cryptocurrencies by market value. The momentum continued with a 15% increase in the past week, bringing its current market value to approximately $15 billion.