Binance now supports USDT on the TON network – DiarioBitcoin
By Hannah Perez
Toncoin (TON) rose modestly in price this morning following the announcement of TON’s native USDT integration on Binance. But then it corrected lower with the rest of the market.
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- Binance users can now send and receive USDT to and from the TON network
- Tether announced in April that it would expand USDT and another of its tokens to the TON network
- Toncoin (TON) rose in price amid widespread market decline
The users of Binance now they have a new channel to send and receive USDT.
The world’s largest cryptocurrency exchange has added a new network Blockchain for stablecoin support Tether (USDT): Toncoin (TON). This was announced by the company in a statement to its clients, indicating that USDT deposits and withdrawals to and from that blockchain are available starting June 21.
“Binance has completed the integration of Tether (USDT) into the Toncoin network. Deposits and withdrawals are now open”.
As a multi-chain exchange, Binance allows users to deposit and withdraw tokens on different networks Blockchain. It currently supports a total of 16 networks for USDT trading, including Ethereum, Avalanche, TRON, BNB Smart Chain, EOS, Solariumand of course the newly added TON.
The ability to switch between the different networks allows users to, among other things, circumvent transaction fees on each chain, making transactions on and off the exchange easier and faster.
Growing interest in TON
The news of integration into the giant cryptocurrency exchange comes after Tetherthe issuing company of USDT, announced in April that it would land its stablecoin famous on the network TON. At the time, the company also said it would bring its physical gold-backed token to that same network.
The announcements also come at a time of greater interest in TONa layer 1 blockchain that was born in 2017 as a project originating from the messaging platform Telegram. TONthe acronym for The Open Networktook an independent course following the regulatory challenges the app faced on its initiative Blockchain.
However, both have maintained ties and more recently have strengthened ties as Telegram seeks to integrate an entire ecosystem of cryptocurrencies and decentralized applications for its users.
In February, the messaging platform Telegram revealed plans to share advertising revenue with channel owners and pay rewards using Toncointhe native cryptocurrency of TON. Telegram It had already adopted TON technology for other functions within the platform, and integrated the TON cryptocurrency wallet last year.
Recently, the popularity of projects such as Notcoin (NOT), based on Telegramhave also given notoriety to the TON ecosystem. Notcoin made a much-anticipated airdrop last week that sent the price of its native token surging.
There are other similar games built on the TON blockchain like Hamster Kombat, Yescoin, Tapswap and PixelTapsome with intentions of launching their own versions to Telegram.
Toncoin The price rose 3% to USD $7.3 in the morning after the news of integration into Binancealthough it has turned bearish amid a broader price decline in the cryptocurrency market.
Article by Hannah Estefanía Pérez / DailyBitcoin
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