The world’s largest crypto exchange by volume, Binance, has announced that it will begin spot trading for Toncoin (TON) from today. The development has led to a significant price rally for TON, which witnessed a 15% price bump following the news.
The daily charts show that the asset is currently up by 8.4%. TON continues to glow red in the other time frames, falling 7.8% in the last week, 5.7% in the 14-day charts, and 14.2% over the previous month.
Also Read: Toncoin (TON): The Telegram-Linked Crypto to Watch in 2024
Current Performance and Market Position
TON is currently the second-best performing cryptocurrency among the top 100 projects by market cap in the daily charts, following XRP.
Recent Price Movements
TON has displayed incredible performance this year. The asset was trading at around $2 in late February but has since risen to over $6. Based on the Telegram network, TON saw a significant price increase after integrating into the Telegram messaging platform.
Potential for TON Future Growth
Toncoin (TON) is currently the ninth-largest cryptocurrency by market cap. The asset has plenty of growth potential, given that the Telegram platform has over 950 million users as of July 2024. The recent Binance listing could also help propel the asset to new heights.
Also Read: PEPE Coin’s 2024 Reversal: The Ultimate Buy Opportunity?
Can TON hit $10 next after the Binance listing?
According to the analysts at CoinCodex, TON will continue to rally throughout this month, breaching the $10 mark on Aug. 21, 2024.
The platform predicts the asset to hit a high of $17.78 in August and eventually reach $22.17 on Sept. 5, 2024.
Also Read: Cardano (ADA) & Toncoin (TON) Price Prediction For August 2024
Changelly also anticipates Toncoin to rally over the next few days, predicting the asset to breach the $10 mark on Aug. 22, 2024.
Changelly expects TON to hit $19.82 in early September 2024 eventually.
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