Toncoin Gets Seed Tag on Binance: Could TON Hit $10 After New Trading Pairs Debut?

• Toncoin (TON) will be listed on Binance with a seed tag, starting August 8, 2024 at 10:00 (UTC), with new trading pairs.
• Users must pass quizzes every 90 days to trade TON, ensuring awareness of risks associated with seed-tagged tokens.
• Trading pairs include TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY, with withdrawals available from August 9, 2024.

Binance has announced it will list Toncoin (TON) tokens on August 8, 2024, at 10:00 (UTC), with a seed tag. Users can start depositing TON in preparation for trading. Withdrawals will open on August 9, 2024, at 10:00 (UTC). 

This new listing includes the following trading pairs: TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY. Notably, Binance launched TON futures trading on March 1, adding another layer to its offerings.

Trading Details and Risk Management

Users will need to complete quizzes every 90 days to trade tokens marked with the seed tag. This ensures users understand the associated risks. The seed tag, representing innovative projects, may exhibit higher volatility and risks. 

Therefore, users must exercise sufficient risk management and conduct thorough research before trading TON. This requirement applies to both Binance Spot and Binance Margin platforms.

Trading Pairs and Deposit Information

The new spot trading pairs available will be TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY. TRY is a fiat currency, not representing any digital currencies. Trading for these pairs will be subject to the user’s country or region of residence. 

Notably, users in certain regions, including the United States, Canada, Japan, and several others, will not be able to trade these pairs. This list may change based on legal and regulatory factors.

Price and Market Data

At press time, Toncoin was trading at $6.19, an increase of 8.46% in the past 24 hours. Its market cap is $15.6 billion, with a 24-hour trading volume of $510.1 million. The volume-to-market cap ratio (24h) is 3.11%. Toncoin has a circulating supply of 2.52 billion TON, a total supply of 5.11 billion TON, and an infinite max supply. The fully diluted market cap is $31.6 billion.

This listing on Binance marks a notable development for Toncoin, providing more trading opportunities for users. However, it is crucial to stay informed about the inherent risks and requirements when dealing with tokens carrying the seed tag.