Key Points
- Binance could soon list Toncoin (TON), new predictions show.
- Crypto monitoring bots detected a new port for Toncoin (TON) added by Binance on May 23.
There are some optimistic predictions regarding a potential listing of Toncoin (TON) by Binance. The optimism stemmed from the latest discovery made by crypto monitoring bots.
It seems that today, May 23, Binance added a new Toncoin (TON) port. CoinDance revealed via X that Binance might have a wallet for the new coin, TON.
#Binance Wallet New Coin
Symbol: TON
Name: Toncoin
Networks: ToncoinCrawled at: 2024-05-22T17:04:27Z
— CoinDance (@CoinDance_cc) May 22, 2024
CoinDance also shared that the information comes from the official API, and the announcement has not yet been published. They also noted that patience is required in order for users to see whether Binance decides to list TON.
This monitoring instance is only a preliminary prediction for a potential listing of TON by the exchange and it cannot be seen as 100% certainty.
However, the team at Toncoin had previously reportedly stated that it has a confidentiality agreement with Binance, but it cannot disclose any details about it so far.
Toncoin (TON) is up by over 3% today
At the moment of writing this article, TON is trading above $6.4, up by almost 3% today, according to data from CoinMarketCap.
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Earlier, the coin saw a price spike that took TON to $6.76.
The current market cap of the token is approximately $22.5 billion.
What is Toncoin (TON)?
Toncoin (TON) is the native token of the decentralized layer-1 blockchain, The Open Network.
The TON blockchain is open-sourced and supported by more network contributors, including the TON Foundation, a Switzerland-based non-profit organization.
Since 2017, the team at Telegram has been developing the codebase for a blockchain network which was called Telegram Open Network with a native crypto called Gram.
In May 2020, Telegram founder and CEO Pavel Durov announced the end of Telegram’s involvement with the blockchain following a court order by the SEC. The Gram token was never issued.
Since 2020, the technology has been further developed by an independent community of devs and blockchain enthusiasts. The blockchain was renamed from Telegram Open Network to The Open Network. Now, TON is the native crypto of the TON network.
The whitepaper includes part of the original codebase written by Nikolai Durov, co-founder of Telegram, Pavel’s brother.
Toncoin uses the PoS consensus model for network scalability and reliability.
TON Foundation aims to empower 500 million users to own their digital identity, data, and assets by 2028. It does this by empowering devs to build a Web3 ecosystem in Telegram Messenger.
Recently, Telegram revealed that it allows users to purchase in-platform ads with Toncoin (TON).
