KuCoin Lists Native Token of TON Blockchain, Developed by Telegram Founders

One of the World’s Top Crypto Exchanges, KuCoin Announced on October 26th the New Listing of Toncoin (TON). 

Toncoin (TON) Listing

According to KuCoin, the total coin supply is 5,071,712,713 TON, and the market cap reaches $5,018,834,996. Toncoin will be listed on October 27th at 10am and will be available in the TON/USDT pair for spot trading. Withdrawals will be available from October 28th at 10am.

This announcement follows Toncoin’s recent listing on the Huobi crypto exchange in September this year. Before the coin listing, KuCoin’s venture arm, KuCoin Ventures, worked with the TON ecosystem, leading the creation of the $250M Toncoin Ecosystem Fund alongside Huobi Incubator. The Toncoin development team indicated that coin airdrops and staking incentives would accompany the listing.

Revived Blockchain Project

Toncoin is a native coin of open-source TON blockchain. TON was initially an acronym for Telegram Open Network. It was designed in 2018 by the Durov Brothers, the founders of Telegram Messenger. However, Telegram quit the project in 2020. It was later handed over to the open TON Foundation, which has been further developing it since.

Over the past few months, the TON blockchain has undergone many developments. On August 19th TON Foundation announced the latest updates to the @wallet bot, which enables cryptocurrency P2P transactions directly via Telegram chats. Telegram also announced the launch of a tokenized username marketplace built on the TON blockchain.

On the Flipside

In 2018, the Telegram TON initial coin offering raised nearly $1.7 billion with the sale of GRAM tokens. The United States Securities and Exchange Commission (SEC) later took a strong stance against TON due to regulatory measures. To settle SEC charges, the company had to return $1.2 billion to investors and pay an $18.5 million penalty.

Why You Should Care

The listing of the native coin on the major crypto exchanges marks an essential milestone in the project’s roadmap and will further develop the project’s decentralized ecosystem.