Crash

bullish

DeFi

Launchpool

Toncoin

The post <a href="https://coinpedia.org/news/crypto-news-today-is-toncoin-headed-for-a-crash-despite-binance-buzz/">Crypto News Today: Is Toncoin Headed for a Crash Despite Binance Buzz?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
Earlier this week, Binance, the largest cryptocurrency exchange by trading volume and global users, added <a href="https://markets.coinpedia.org/toncoin/">Toncoin (TON) </a>to its Launchpool and Super Earn programs. This allows Binance users to farm 7.6 million TON tokens by staking BNB, FDUSD, and TON. 
Interestingly <a href="https://app.coinpedia.org/company/binance" target="_blank" class="profile-details">binance</a> <img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10122626/info_icon.svg" alt="information" class="info-icons"> <a href="https://app.coinpedia.org/company/binance" target="_blank"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/09190601/link.svg" alt="link"></a> <a href="https://www.binance.com/" target="_blank" rel="nofollow noopener"> <img decoding="async" src="https://image.coinpedia.org/app_uploads/profile/1664610315244lexyqsklms.png" class="company_logo_img" alt="profile company logo" title="profile company logo"></a> binance binance@miceneurol.com Centralised Exchange <a href="https://www.binance.com/" target="_blank" rel="nofollow noopener"><img decoding="async" src="https://image.coinpedia.org/wp-content/uploads/2022/11/10161442/globe.svg" alt="globe icon" title="globe icon"></a> announced earlier on Friday that it would be launching an additional quota with a max subscription capped at 50 TON per user. The cryptocurrency exchange announced that the initial farming quota was oversubscribed a few minutes after the initial launch.&nbsp; 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 Due to overwhelming demand, the Toncoin <a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TON</a> Super Earn was fully subscribed in minutes. We’re launching an additional quota at 12 pm UTC— max subscription capped at 50 <a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TON</a> per user. Act fast to secure your spot! Details here <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f449.png" alt="👉" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/k7OK4rkKMP">https://t.co/k7OK4rkKMP</a> <a href="https://t.co/KerkZSQfwe">pic.twitter.com/KerkZSQfwe</a>— Binance (@binance) <a href="https://twitter.com/binance/status/1824391689596731437?ref_src=twsrc%5Etfw">August 16, 2024</a>
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<h2 class="wp-block-heading" id="h-toncoin-s-growth-backed-by-telegram">Toncoin’s Growth Backed by Telegram</h2> 
Toncoin, supported by Telegram’s massive user base of nearly 1 billion monthly active users, has shown strong growth recently. The project has also attracted investments from leading Web3 investors, including Pantera and HashKey. 
The Toncoin network now boasts over $559 million locked across DeFi projects, with strategic partnerships pushing its stablecoin market cap to nearly $620 million. 
<h2 class="wp-block-heading" id="h-next-targets-for-ton-price-nbsp">Next Targets for TON Price&nbsp;</h2> 
Toncoin price has slipped more than 5 percent in the last two days to trade at about $6.46 on Friday during the early New York session. The large-cap altcoin, with a fully diluted valuation of about $32 billion and a daily average traded volume of over $700 million, was rejected twice at its all-time high above $8, thus signaling a midterm bearish outlook. 
Despite signaling a potential bullish breakout on the daily time frame from a following logarithmic trend, the <a href="https://coinpedia.org/price-prediction/toncoin-ton-price-prediction/" target="_blank" rel="noreferrer noopener">TON price</a> has consistently closed below the 50-day Moving Average (MA), thus signaling further bearish sentiment. 
As a result, TON’s price could drop towards the support level of around $4.78 in the near term before continuing with its billing momentum later. 
Alos Check Out: <a href="https://coinpedia.org/news/altcoin-boom-ahead-timing-your-crypto-investments-for-maximum-profits/" target="_blank" rel="noreferrer noopener">Altcoin Boom Ahead? Timing Your Crypto Investments for Maximum Profits</a> 
Have you invested in Toncoin? Share your experience and tips.

Crypto News Today: Is Toncoin Headed for a Crash Despite Binance Buzz?

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