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Binance has added perpetual Toncoin futures to trading

Altcoins: Binance has added perpetual Toncoin futures to trading

Starting March 1, 2024, unrestricted Toncoin (TON) futures contracts with leverage up to 50 times will be accessible on the Binance Futures platform.

The USDⓈ-M TON agreement will commence at 12:30 (UTC). Settlements will be in USDT #stablecoin.

The minimum price movement is 0.0001, and settlements will occur every four hours.

According to the official statement, futures liquidity providers using #USDT as margin will enjoy a 0.005% discount on the maker's fee for trades in this position over a 14-15 day period.

Furthermore, these contracts facilitate the "multi-asset" feature, enabling margin trading across various cryptocurrencies.

Following this announcement, the Toncoin (#TON) value surged by over 9%. As of now, the coin is valued at $2.75:

Binance has added perpetual Toncoin futures to trading
TON/USDT rate. Source: TradingView

It is worth noting that previously, we highlighted #Telegram's intention to redistribute advertising earnings by compensating channel administrators in Toncoin.

Simultaneously, the developers intend to distribute a majority of the coins to long-term holders to bolster the project's decentralization.

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