TL;DR
- Binance will quickly 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 alternate will carry out pockets upkeep for The Open Community (TON) on August 26, quickly 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 is not going to influence token buying and selling on the aforementioned community. It additionally promised to deal with all technical necessities for customers.
The alternate acknowledged there could be no additional bulletins on the above, that means that customers ought to query in the event that they discover further details about this on the Web.
Earlier this month, Binance confirmed help 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 house owners. He additionally mentioned that these funds could be made completely in Toncoin.
“Just like our method with Telegram usernames on Fragment, we are going to promote advertisements and share income with channel house owners in Toncoin. This will create a virtuous circle, through which content material creators will be capable of 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 turned one of many prime 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 provided 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 value virtually reached that peak in July earlier than experiencing enhanced volatility and ultimately settling to the present stage of round $6.60.