Binance, the well-known cryptocurrency exchange, has recently included Tether (USDT) support on the Toncoin Network, an action that has seen a lot of volatility in the prices of TON since it increased and then decreased soon afterwards. USDT can now be transferred using the Toncoin Network within Binance thereby implying that the move is in line with their intention to enhance multi-chain alternatives.
Binance Expands Multi-Chain Support with USDT Integration on Toncoin Network
Binance now provides deposit/ withdrawal services for USDT (Tether) on the Toncoin Network. TON network usage is substantially increased by the USDT adding more value because it is known to be the biggest stablecoin by market capitalisation and it is very stable and liquid.
Users can benefit from TON’s advantages of quick processing rate and nominal charges and at the same time use USDT for smooth transactions plus activities involving assets. In this broader sense, such a move by Binance is consistent with its general policy of supporting different blockchain networks hence giving clients more alternatives of protecting their digital property more reliably.
To make it easier for people to integrate, Binance has reserved special token deposit addresses for USDT on the TON network. You should use the links given at Binance’s official announcement to confirm that those are indeed the addresses and also to get to know more about the TON smart contract specifics. This initial precaution’s main purpose is to ensure that safety and correctness are upheld during transactions on the recently unified networks.
Market Reactions and Price Volatility
TON’s integration with USDT was applauded by the market making TON’s price soar to $ 7.32 at first only to adjust to $ 7.13 later on. It currently has a 24-hour trade volume worth 355.7 million dollars with insignificant variations that suggest the market is still adjusting its position.
No matter what the market outlook is, Pavel Durov, the founder of Telegram has made it clear that he intends to use TON for tokenizing stickers and emojis on Telegram’s platform. At Token2049 in Dubai last week, he stated his preference for both privacy and freedom as essential blockchain principles and also mentioned some upcoming features like USDT integration or revenue sharing via ads on Telegram.
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