Toncoin Trading at $5.5, TON Price Rebound in View as Bithumb Unveils Listing

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As a seasoned researcher with a penchant for cryptocurrencies and a deep understanding of South Korea’s market dynamics, I find the recent listing of Toncoin (TON) and MetisDAO (METIS) on Bithumb an intriguing development. My personal experience tells me that such listings can have a significant impact on a token’s price and liquidity, especially when it comes to South Korean exchanges like Bithumb, which boasts a massive user base.

Bithumb, one of the well-known cryptocurrency exchanges in South Korea, has taken steps to strengthen its market standing. In a recent announcement, the exchange revealed it would be adding two popular altcoins, Toncoin (TON) and MetisDAO (METIS), to its platform.

Today, the two digital coins were activated, making them available for adoption within the designated region. This addition could substantially influence both currencies, particularly by initiating a price resurgence for Toncoin (TON). The news has sparked enthusiasm among crypto enthusiasts, as it is anticipated to infuse new energy into the South Korean market. Immediately following the announcement of Toncoin’s listing, market participants have shown great interest in capitalizing on this fresh opportunity.

Operational Details for the New Listings

On Bithumb’s platform, the recently added tokens, namely Toncoin (TON) and MetisDAO (METIS), can now be exchanged with South Korea’s official currency, the Korean Won (KRW). These tokens will trade under two pairings: TON/KRW for Toncoin and METIS/KRW for MetisDAO.

South Korean merchants can directly purchase and trade these alternative coins utilizing domestic payment methods. This means that traders won’t have to exchange Korean Won (KRW) for digital currencies such as Bitcoin or Ethereum to finalize the transaction.

All Toncoin transactions, whether deposits or withdrawals, will only be handled within the TON network.

MetisDAO (METIS) is set to launch on Bithumb’s Korean Won market, but it functions within the Ethereum network. Similar to TON, it limits deposit options, accepting only deposits in Ethereum. The initial value of MetisDAO has been fixed at 87.04 KRW, offering traders a clear benchmark for its evaluation.

In just three hours after the announcement, the trading platform made it possible to trade Toncoin and MetisDAO. But, before deposits for either token can be handled, a single confirmation is required for Toncoin, while 33 confirmations need to be processed for MetisDAO.

Adopting this organized method guarantees that users can promptly delve into trading activities while maintaining security protocols. Bithumb’s intention behind these recent additions is to offer a smooth trading journey, thereby boosting the liquidity of Toncoin and MetisDAO within the South Korean market.

Potential Impact on Toncoin (TON)

Using a well-known exchange like Bithumb listing Toncoin might be crucial for increasing its value. With more people gaining access to Ton via the Korean Won (KRW) market, it’s expected that the liquidity of Toncoin will grow, leading to more frequent trades and potentially enhancing its price consistency.

Currently, the value of TON coin has increased by 1.88% to reach $5.483, following a 24-hour low of $5.208.

Despite some recent ups and downs in Toncoin’s price, the listing on Bithumb might spark a favorable turnaround. In particular, it could boost retail interest in TON, which could supplement the existing whale investment observed previously.

Investors from South Korea, who are renowned for their affinity towards cutting-edge blockchain initiatives, might ignite a growth spurt within The Open Network (TON) ecosystem. This influx of attention from these investors could lead to an uptick in interest for Toncoin and other associated tokens that stem from Telegram.

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2024-11-21 17:00