Binance listing for a known token
Binance listings not working very well at the moment? Regardless, this is an opportunity for the crypto platform to return to its basics and welcome assets that have proven themselves. Investors are impatiently waiting for the next one!
The famous exchange announced the listing of Toncoin (TON), scheduled for noon in France. For its first steps on Binance, only three trading pairs will be available, namely TON/BTC, TON/USDT, TON/FDUSD.
We remind you that TON is the native token of the Toncoin blockchain, a decentralized network developed by the Telegram team. This was created, among other things, to monetize the app’s various channels.
Moving on: Our take on Binance in 2024: top or flop?
The altcoin did wonders last spring, attracting the attention of the entire cryptosphere. It is now targeting a new ATH and is nearing the target thanks to the speculation generated by its listing on Binance. Indeed, it has already gained 10% of its value to $6.30 since yesterday.
What to expect next?
The public is here for the big launch of Toncoin on Binance, but the token is currently at a crossroads. It needs to break above the $6.30 resistance with fears of a possible rejection, although current speculation may help it stabilize at $6.75 in the coming days.
Two scenarios are expected for the future: a retest of support at $6.30 if it breaks above to reach another key resistance at $7.70 or a sell-off by next weekend. With an overbought RSI, TON could fall victim to its rally in value this week. Binance offers always pay a price.
Despite this, the outlook remains encouraging, with CoinCodex estimating that it could easily cross $15 by the end of August, a 140% move.
Moral of the story: Momentum is part of Toncoin’s jump.
Disclaimer
Disclaimer: In accordance with The Trust Project guidelines, BeInCrypto is committed to providing unbiased and transparent information. This article aims to provide accurate and relevant information. However, readers are encouraged to check the facts for themselves and seek professional advice before making any decisions based on this content.