KuCoin Will Trade Toncoin (TON), Telegram's Crypto

Toncoin TON is starting to trade on KuCoin. (Photo; Doc. Telegaon)

JAKARTA One of the leading crypto trading companies, KuCoin, is reportedly going to trade a crypto affiliated with Telegram, namely Toncoin (TON). It is planned that TON will start trading on October 27, at 10 this morning as conveyed directly by KuCoin.

KuCoin provides a TON/USDT trading pair in its spot trading. The company announced that withdrawals could be made starting October 28 at 10 a.m. This announcement follows the steps taken by the Huobi crypto exchange, which traded TON in September.

Prior to coin recording, KuCoin's venture company line, KuCoin Ventures, worked with the TON ecosystem, leading the creation of a $250 million Toncoin Ecosystem Fund alongside Huobi Incubator. Toncoin's development team indicated that coin airdrops and stake incentives would accompany TON listings, as reported by DailyCoin.

Additional information, Toncoin is the original coin of blockchain TON. TON was originally an acronym for Telegram Open Network. TON was designed in 2018 by Durov Brothers, founder of Telegram Messenger. However, Telegram left the project in 2020. TON was then handed over to the TON Foundation, which has been developing it further since then.

Over the past few months, blockchain TON has made many developments. On August 19, the TON Foundation announced its latest update to the bot @wallet, which allows for direct cryptocurrency P2P transactions via Telegram chat. Telegram also announced the launch of a username marketplace built on a blockchain TON.

Earlier, in 2018, Telegram TON's initial coin offering raised nearly $1.7 billion with GRAM token sales. The United States Securities and Exchange Commission (SEC) then took a tough stance on TON due to regulatory action. To settle the SEC's allegations, the company had to return 1.2 billion dollars to investors and pay a fine of 18.5 million US dollars.

At the time of writing, Toncoin is trading at 1.88 US dollars per TON. TON crypto prices have increased by 4 percent in the last 24 hours based on data from CoinMarketCap.