TL;DR
- Binance will briefly droop TON deposits and withdrawals on August 26, however buying and selling will stay unaffected.
- The corporate launched sure buying and selling pairs involving the altcoin earlier this month, contributing to its worth rally as of late.
What Is the Cause?
The world’s main cryptocurrency trade will carry out pockets upkeep for The Open Community (TON) on August 26, briefly suspending TON deposits and withdrawals. The upkeep is predicted to take about two hours, after which all companies might be resumed.
Binance assured that the initiative won’t impression token buying and selling on the aforementioned community. It additionally promised to deal with all technical necessities for customers.
The trade said there can be no additional bulletins on the above, which means that customers ought to query in the event that they discover extra details about this on the Web.
Earlier this month, Binance confirmed assist for Toncoin (TON) – the native cryptocurrency of The Open Community – by itemizing the TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY buying and selling pairs.
The worth of the altcoin reacted positively to the information, spiking by roughly 10% on a 24-hour scale and reaching $6.40.
TON’s Success in 2024
The cryptocurrency has been among the many greatest market performers previously a number of months, witnessing a worth rally of over 190% since January 1, 2024.
TON’s spectacular rally started in late February when Pavel Durov, the CEO of the messaging software Telegram, introduced that the platform would begin sharing 50% of the advert income generated on Telegram channels with the channel homeowners. He additionally stated that these funds can be made solely in Toncoin.
“Much like our method with Telegram usernames on Fragment, we’ll promote adverts and share income with channel homeowners in Toncoin. This will create a virtuous circle, during which content material creators will be capable to both money out their Toncoins – or reinvest them in selling and upgrading their channels,” Durov’s assertion reads.
TON continued its uptrend within the following months, and in April, it grew to become one of many high 10 greatest cryptocurrencies after flipping Cardano (ADA).
The rally occurred shortly after the Ton Society (a community-driven entity linked to The Open Community) partnered with the AI firm HumanCode. As a part of the collaboration, the previous supplied an incentive of a million TON tokens to encourage customers to undertake HumanCode’s palm-scanning expertise.
Whereas many main cryptocurrencies skilled a correction through the first half of June, this was not the case with TON, which tapped a brand new all-time excessive of round $8.18. The worth nearly reached that peak in July earlier than experiencing enhanced volatility and finally settling to the present stage of round $6.60.
