TON token rises 10% after Huobi listing announcement

The company noted that this may happen on September 7, 2022

05.09.2022 - 14:40

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What’s new? Toncoin (TON) rose nearly 10% after the announcement of a listing on the cryptocurrency exchange Huobi. The company noted that this could happen on September 7, 2022. TON deposits opened at 5:30 UTC on September 5. Spot trading of TON paired with USDT stablecoin will open when deposit volume matches market demand, which will be officially announced in advance. TON withdrawals will open on September 8 at 5:30 Moscow time.

Information on Huobi's website

What is known about Huobi? It is a digital asset trading platform founded in 2013 in Beijing. Currently based in Seychelles, it also has offices in Hong Kong, South Korea, Japan, and the US. It hosts 625 digital assets and 995 trading pairs. Daily trading volume as of September 5 at 13:00 UTC is $534,60 million, according to CoinGecko.

The company's own Huobi Token (HT) is used for commission discounts as well as additional rewards and bonuses. The asset is trading at $4,72, having lost 0,74% in 24 hours. The asset has a market capitalization of $724,6 million.

What is known about TON? It is the token of the decentralized computer network TON (The Open Network). The TON concept was developed by the Durov brothers in 2017, who raised several billion dollars for the project. The stock is trading at 1,61%, up 9,15% overnight.

On August 22, the Securities Commission (SC) of Malaysia published a statement about cryptocurrency exchange Huobi Global’s inclusion on the Investor Alert List. The Commission warned that it did not regulate or monitor the operation of an unregistered platform in the country.

On the morning of June 28, the last TON was mined before the blockchain switched from Proof of Work (PoW) consensus algorithm to Proof of Stake (PoS).

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