Coinspeaker
Binance Futures Launches Toncoin (TON) Perpetual Contracts with Up to 50x Leverage

Major exchange Binance has announced the launch of TON (Telegram Open Network/Toncoin) Perpetual Contracts on Binance. According to an official Binance Futures X post, the product will launch at 12:30 UTC on March 1, 2024. In response to the announcement, the price of the TON token jumped by 10%. Currently at $2.81, according to CoinMarketCap data, TON has climbed more than 35% over the last 7 days.

The product will offer users up to 50x leverage, driving some attention towards the Telegram-developed blockchain and token. Interestingly, the Toncoin is not available on Binance. Access to the token is only possible via the new futures product.

Binance’s decision to launch TON trading comes shortly after Telegram founder Pavel Durov announced that channel creators would receive financial rewards for ads. In a message on his Telegram channel, Durov said creators would now be entitled to...