Toncoin spikes 13% as Turkey’s largest crypto exchange lists TON

Toncoin (TON) has soared more than 13% in the past 24 hours as another major exchange announced the listing of the TON token.

Significant upside pressure surfaced after news that the world’s largest crypto exchange Binance would list TON.

The announcement has now been followed by another major listing announcement by BtcTurk, the largest crypto exchange in Turkey.

According to data from CoinMarketCap, Toncoin currently leads the top 100 coins by market cap in terms of 24-hour gains.

The 13% upside is more than the double-digit gains for ThorChain (RUNE), Helium (HNT), Notcoin (NOT) and Fantom (FTM).

Other notable gainers on the day are Aptos (APT), Stacks (STX) and Celestia (TIA), whose upward movement comes as Bitcoin and Ethereum break above $61,000 and $2,700 respectively.

TON surges amid Binance and BtcTurk listing

Toncoin is surging after Binance introduced TON as the 56th project on its Binance Launchpool.

The announcement on Aug. 13 noted that users can now farm the layer-1 token TON through staking BNB and FDUSD.

Introducing Toncoin $TON on #Binance Launchpool and Super Earn!

Lock your tokens and earn Special APR rewards.

Find out more 👉 https://t.co/Y8vHwg2a92 pic.twitter.com/3m1khH1APB

— Binance (@binance) August 13, 2024

The farming of the Telegram-supported TON token will be open for twenty days before the altcoin opens for trading on the leading exchange.

Also attractive with this listing is Binance’s unveiling of Super Earn feature, which is a new avenue through which customers can earn from their locked TON.

While a lot of the rally during the Asian trading hours has come after Binance’s announcement, Toncoin has also surged after BtcTurk, the largest crypto trading platform in Turkey, listed TON for trading.

The exchange has opened deposits for TON and will enable trading pairs against USDT and the Turkish lira on August 15 starting at 12:00 pm UTC.

BtcTurk, which has over 5 million registered users, provides access to lira transfers via an integration involving seven banks in Turkey.

A $1.1 million rewards program

Toncoin’s price gains in the past 24 hours have also come amid the launch of a new rewards program for TON and USDT holders.

On Aug. 12, the TON blockchain-based decentralised exchange (DEX) protocol STON.fi announced a $1.15 million rewards program designed to support USDT liquidity on the TON blockchain.

The program will see STON.Fi distributes 175k tokens to TON/USDT farmers.

The rewards program is now extended to Aug. 19.

TON price

Source: TradingView

TON price as seen on the daily chart above has bounced off the key support level at $6.21.

Bulls may target the $10 area as both the Relative Strength Index (RSI) and Moving Average Convergence Divergence indicators suggest a bullish flip. Toncoin currently trades at $7.12.

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