TON exchange rate rises by 17% after the announcement of listing on Binance Futures

Earlier, messenger Telegram announced that it would start accepting payment for advertising exclusively in TON tokens

01.03.2024 - 12:10

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What’s new? Crypto exchange Binance’s futures platform will add support for perpetual contracts on TON blockchain native tokens with leverage of up to 50x. Trading in the derivative will open on March 1, at 12:30 UTC. Settlements will be made in USDT stablecoins. The TON rate reacted to the announcement with a 17% growth and reached $2,86.

The exchange’s announcement

What else is known? Trading of the TONUSDT perpetual contract will be conducted in a 24-hour mode, the tick size will be 0,0001, the funding rate will be from +2% to -2% and funding settlements will be made every four hours. Binance warned that based on market risk conditions, they may adjust these figures from time to time.

At the same time, the Multi-Assets mode is available for the instrument, which allows trading TONUSDT with multiple margin assets, depending on the applicable restrictions. For example, when the mode is activated, users can use BTC as a margin when trading the TONUSDT perpetual contract.

Earlier, Binance announced the listing of the native token of the Axelar (AXL) cross-chain protocol on the spot market, resulting in a 76% increase in the asset’s exchange rate.

A day earlier, Pavel Durov announced that Telegram will start using TON tokens to accept payment for advertising banners in channels, and their authors will receive 50% of the income.

At the same time, he noted that Telegram does not intend to concentrate large amounts of TON on its accounts, as this would lead to centralization of the project. Thus, the share of supply of the asset on the accounts of the messenger will be limited to 10%, the surplus will be sold to long-term investors at a discount and blocking period for a period of 1 to 4 years.

At the time of writing the news, TON occupies the 15th line of the ranking of cryptocurrencies with a capitalization of $9,8 billion. Over the week, its rate rose by 36%.

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