Binance, the world’s leading cryptocurrency exchange, has announced that it will temporarily suspend TON deposits and withdrawals on August 26 for wallet maintenance. However, trading of the altcoin will remain unaffected during this time. The maintenance is scheduled to last for approximately two hours, after which all services will be resumed. Binance has assured users that the initiative will not impact token trading on the network and has promised to handle all technical requirements for users.
Earlier this month, Binance showed support for Toncoin (TON) by introducing trading pairs such as TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY. This move contributed to a price rally for the altcoin, with its value increasing by approximately 10% on a 24-hour scale and reaching $6.40. TON has been one of the best market performers in recent months, witnessing a price rally of over 190% since January 1, 2024.
TON’s price rally began in late February when Pavel Durov, the CEO of the messaging application Telegram, announced that the platform would start sharing 50% of the ad revenue generated on Telegram channels with the channel owners exclusively in Toncoin. This announcement sparked a positive reaction in the market, leading to an impressive rally for TON. In April, TON became one of the top 10 biggest cryptocurrencies after partnering with the AI company HumanCode and offering incentives for users to adopt new technology.
While many leading cryptocurrencies experienced a correction in the first half of June, TON continued its uptrend, tapping a new all-time high of around $8.18. The price almost reached that peak in July before experiencing enhanced volatility and eventually settling to the current level of around $6.60. Despite the fluctuations, TON has shown resilience in the market and continues to be a favorable choice for investors.
Binance’s decision to suspend TON deposits and withdrawals for maintenance demonstrates the exchange’s commitment to providing a secure and efficient trading environment for users. The support for Toncoin and the positive market performance of TON reflect the growing popularity and potential of the altcoin. As the cryptocurrency market continues to evolve, TON’s impressive rally and partnerships signal a promising future for the project.
Leave a Reply