Toncoin (TON) Joins Binance Launchpool for Passive Income

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Toncoin (TON) is set to become the 56th asset added to Binance’s Launchpool program, providing a new source of passive income for its holders. The farming for TON tokens will begin on August 15, accompanied by an initial 20-day trading period.

The Launchpool session is designed to distribute 7.65 million TON tokens, aiming to enhance the adoption of this cryptocurrency. Including TON in Binance Launchpool allows depositors to earn TON tokens as rewards, which are directly credited to their spot wallets without restrictions.

This move is consistent with Binance’s history of supporting a variety of cryptocurrencies through its Launchpool program, which has previously popularized tokens such as ENA, PENDLE, and MANTA.

Binance launchpool campaign details

The upcoming TON campaign on Binance will specifically benefit holders of BNB and FDUSD, who can participate in two separate pools. Even before the pool’s official launch, Toncoin had already garnered significant market depth on Binance, with over 10% of the trading activity centred on this asset.

Despite Binance’s initial hesitance to list TON due to concerns over its stability and potential misuse in scams, the cryptocurrency has established itself as a critical player in the Telegram ecosystem, supporting transactions, advertising, mini-apps, and tap-to-earn games.

Toncoin has shown impressive resilience, bouncing back from lows of under $5 following a market downturn. The token has rebounded to its usual trading range, growing over 25% in the past week.

The news of its inclusion in Binance’s Launchpool has contributed to a surge in interest, leading to a 12.8% increase in value in just one day. This rally has been fueled by heightened search activity and social media mentions, particularly on August 14, the anniversary of the Telegram app. Currently, TON is trading at $7.14, placing it among the top gainers on Binance.

Prospects and ongoing development

The recent Binance listing has strengthened TON’s position in the market. The token now achieves a market depth of 2% or $1.8 million in its third-largest trading pair, trailing only OKX and Bybit. Toncoin has also seen its daily trading volume peak at $1.02 billion, bringing it closer to its all-time high above $8. The token’s recent performance has outpaced that of Solana (SOL), further solidifying its standing among leading cryptocurrencies.

Toncoin has a total value locked (TVL) of $600 million, primarily distributed across the Ston. Fi and DeDust decentralized exchanges (DEXs). TON remains active as an ERC-20 and a BSC-based token, in addition to its native Toncoin form. The token has also witnessed an increase in the supply of USDT on the Toncoin chain, reaching 619 million, up from 500 million in June. The TON ecosystem continues to attract attention, particularly in light of upcoming events like the Hamster Kombat and Dog airdrops.

The Hamster Kombat app, popular on social media, is anticipated to release more details about its upcoming token generation and airdrop, which is expected to drive further interest in TON. Meanwhile, the Dogs community on Telegram, which boasts over 14 million subscribers, eagerly awaits the DOGS token airdrop on August 20.

The DOGS token, which will be Telegram-native, has already secured a listing on OKX following its success in pre-launch futures trading. Toncoin’s continued growth and integration into various platforms and applications suggest a promising future for the asset, particularly with the support of Binance and its Launchpool initiative.

The post Toncoin (TON) Joins Binance Launchpool for Passive Income first appeared on Coinfea.

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