- Binance integrated Tether with the Toncoin network
Despite this update, however, the price of TON declined on the charts
As a crypto investor with experience in the market, I’m excited about Binance integrating Tether (USDT) on the Toncoin (TON) network. This strategic move offers several advantages for users, allowing them to enjoy the benefits of TON’s fast transaction speeds and low fees while leveraging USDT’s stability and liquidity.
Binance has officially announced the integration of Tether on the Toncoin [TON] network. This integration allows users to deposit and withdraw USDT directly on the Telegram-associated blockchain, known for its fast transaction speeds and low fees.
Binance and Tether join hands
The collaboration between Binance and USDT represents a strategic triumph for both entities. Binance enhances its diverse chain services by adding the globally recognized stablecoin, USDT. USDT’s unwavering stability and immense liquidity, fueled by its position as the largest stablecoin in terms of market capitalization, brings substantial value to the TON network.
“Users can take advantage of TON‘s benefits and experience hassle-free transactions along with effective asset management through USDT.”
Furthermore, Binance’s move to integrate TON is consistent with their mission to cultivate a varied blockchain community. This collaboration enables Binance users to have more choices in handling their digital possessions.
For a seamless transfer of USDT to TON, Binance has made available specific deposit addresses and smart contract information.
Some problems for TON ahead
It’s important to mention that this integration occurs against the expectation of regulatory adjustments within the European Economic Area (EEA). Uphold’s move to withdraw the listing of certain stablecoins, such as USDT, in preparation for the upcoming MiCA regulations is a notable example of this trend.
The fact that Binance has adopted TON could be viewed as a tactical response to the ever-changing regulatory environment.
As an analyst, I’ve observed that despite recent updates, the price of TON has not experienced notable growth. In fact, over the past week, the value of TON dropped by 7.11%. This decline was substantial enough to alter the overall trajectory of TON’s price trend. If the market maintains this momentum, TON could potentially experience considerable losses.
As a crypto investor, I’ve been keeping an eye on TON‘s performance based on AMBCrypto’s analysis of Santiment’s data. I’ve noticed that the network growth surrounding TON has significantly decreased in recent days. This means that the number of new addresses engaging with the TON token has declined. Furthermore, the trading velocity for TON has decreased as well – a clear indication that the frequency at which TON is being moved around has slowed down.
Is your portfolio green? Check the TON Profit Calculator
As a crypto investor, I’ve noticed that the number of new addresses joining the TON network has been dwindling, and the transaction volume has been decreasing as well. If this trend persists, my optimism for a potential turnaround in TON’s fortunes may wane even more.
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2024-06-22 09:11