Featured Image from Pinterest, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Toncoin (TON), the native token of The Open Network, has been one of the best performers this cycle. The token registered a 200% surge in the last six months, flipping Dogecoin (DOGE) by market capitalization. As a result, the crypto exchange Binance announced the listing of TON on August 8, which propelled the price by over 10%. Related Reading: Ethereum On The Move: Dormant ETH Wallets Linked To $4 Billion Scam Awaken Toncoin Soars 14% After Binance Listing On Thursday, Binance, the largest crypto exchange by trading volume, announced it would list TON on the trading platform. The exchange stated that the seed tag, used for projects with higher volatility and risks than others, would be applied to the token. Binance announced it would open trading for four new spot trading pairs on August 8 at 10:00 UTC. The pairs include TON\/BTC, TON\/USDT, TON\/FDUSD, and TON\/TRY. Additionally, the exchange added Toncoin to Binance Simple Earn, “Buy Crypto,” and Binance Convert. Meanwhile, TON withdrawals won\u2019t be available until Friday. The telegram-integrated token will also be added to Binance\u2019s Margin and Auto-Invest services on Monday, August 12. Following the listing, Toncoin saw an initial 14% increase, reclaiming the $6 support zone. The token surged to the $6.4 area before retracing to the $6.3 mark. Moreover, TON\u2019s market activity increased by over 239% in the last 24 hours, with a daily trading volume of $1.3 billion. TON Tests Key Levels Following the recent surge, investors and market watchers have weighed in on TON\u2019s price action. Trader AltCryptoGems highlighted that Toncoin was \u201coutperforming today\u201d with a \u201cvery nice pump from support.\u201d Per the chart, TON bounced from the $5.4 support area to the $6.3 resistance level. If the token fails to reclaim this level, its price could lose momentum and dip to the previous support zone or lower. However, a successful retest of the key $6.3 mark could drive the price above $6.4. This could lead the token to break out of the downtrend line and propel the price towards TON\u2019s ATH. The trader suggested avoiding \u201cchasing green candles, especially above key resistance levels.\u201d Instead, he advised that investors monitor the token\u2019s reaction as \u201cit is an interesting area to do some business.\u201d Similarly, Altcoin Sherpa warned investors about TON despite being bullish. To the analyst, it\u2019s \u201cstill a great chain\/project.\u201d However, Sherpa considers that the project needs more adoption even if \u201cthere are a lot of builders going on there lately.\u201d \u201cI think TON is still bullish for this cycle but wouldn’t be rushing to buy at current prices,\u201d stated the analyst. Related Reading: Solana (SOL) Bounces 30% Amid Market Recovery, Analysts Remain Bullish Toncoin displayed one of the strongest performances this cycle so far, reaching its ATH of $8.25 two months ago. The token has neared the $6.4 resistance level, hovering between the $6.35 and $6.38 price range in the past hour. As of this writing, TON is trading at $6.37, a 14.8% increase in the last 24 hours. Featured Image from Pinterest, Chart from TradingView.com<\/p>\n","protected":false},"author":614,"featured_media":610786,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[10768,91790,12660,90501,90836,13177,89448,12143,92601,87713,87714,88282],"class_list":["post-634134","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-binance-listing","tag-bullish-sentiment","tag-crypto-analsyt","tag-crypto-trader-sentiment","tag-telegram-open-network","tag-the-open-network","tag-ton","tag-ton-blockchain","tag-toncoin","tag-toncoin-price","tag-tonusdt"],"acf":[],"yoast_head":"\n
Toncoin Soars 14% After Binance Listing, TON Breakout Ahead?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n