Toncoin (TON) is among the top performing altcoins in October 2022: recent technical releases are followed by crucial listing announcements.
Toncoin (TON) listed by KuCoin against USDT
Aссording to the official announcement shared by The Open Network (TON) team, its core native cryptocurrency, TON, is listed on top-tier CEX KuCoin.
📢 New Listing@ton_blockchain $TON Gets Listed on KuCoin!— KUCOIN (@kucoincom) October 26, 2022
🔹Deposit: now open (network: TON)
🔹Trading: 10:00 AM on October 27, 2022 (UTC)#PoS #Web3 #Layer1
Earlier this year, KuCoin Ventures, the VC arm of KuCoin, backed The Open Network (TON) alongside Huobi Ventures. Both heavyweights took part in a $250 million Toncoin Ecosystem Fund focused on bringing new-gen dApps to The Open Network (TON).
Starting from Oct. 27, 2022, TON will be available on KuCoin in spot pair with U.S. Dollar Tether (USDT), the largest stablecoin by market capitalization. To celebrate this massive adoption milestone, the TON team launches an array of community initiatives, including airdrops, tournaments and more.
Also, TON coins will be available for staking with competitive annualized percentage rates (APRs).
TON price rallies by 50% in one week
It is also worth noting that the TON token was also listed on another Tier-1 cryptocurrency exchange, Huobi. As such, in Q4, 2022, The Open Network’s (TON) cryptocurrency sees its liquidity ecosystem boosted by a huge inflow of money.
On these announcements, TON’s price outperformed all major altcoins: the token jumped into the top 30 of cryptocurrencies by market capitalization.
In the last seven days, the TON price rocketed from $1.2 to $1.9 on major spot exchanges. Telegram recently announced its intention to build a marketplace on the TON blockchain. Its price spike, therefore, may also have been catalyzed by the outage of WhatsApp, a major Telegram rival
Also, as covered by U.Today previously, independent TON-centric developers released a major update to its wallet instrument — the first-ever opportunity to transfer value through Telegram Messenger applications for mobile phones and desktop computers.
In Q3, 2022, the net operating turnover of the application eclipsed $5 million, while the total number of registered accounts spiked above 1 million.