Toncoin ($TON) is gaining attention in the cryptocurrency world and is now available for trading on several major centralized exchanges. Toncoin (TON) is the native cryptocurrency of The Open Network (TON), a blockchain initially developed by Telegram.
TON is designed to be a highly scalable and efficient blockchain capable of processing millions of transactions per second. Its unique architecture consists of a masterchain, which coordinates the network, alongside up to 232 workchains and 260 shardchains.
Within the TON ecosystem, Toncoin serves multiple purposes. It facilitates transactions and pays fees across the network, enabling users to engage with various decentralized applications and services built on TON.
Additionally, Toncoin allows for participation in governance through the TON VOTE platform, where holders can influence decisions regarding the network’s future. Users can also stake Toncoin to validate transactions and help secure the network.
The total supply of Toncoin is capped at 5 billion, with a current circulating supply of around 2.5 billion, and a TVL that exceeded $760 million for the first time in July 2024.
In 2024, Toncoin has experienced significant growth, reaching an all-time high of $8.28 in June. Thanks to the mini-apps launched on Telegram, such as Notcoin, Tapswap, Blum, and Hamster Kombat, which have attracted millions of users to the TON ecosystem.
Here’s a look at where you can trade TON and how much trading volume each exchange handles:
OKX
OKX is the leading platform for Toncoin trading, handling about 16% of all trades. This means users have lots of chances to buy or sell Toncoin, which has been available on OKX since November 2021.
OKX is a global exchange where people can trade digital currencies like Bitcoin and Ethereum. It was started in 2017 by Star Xu and now serves over 50 million users worldwide. The platform offers various services, including different types of trading, and is known for being easy to use and having low fees.
Apart from listing Toncoin three years ago, OKX Wallet now supports The Open Network (TON), making it one of the first multi-chain wallets to do so. Users can easily manage and track their TON assets directly through the OKX app, wallet extension, and web dashboard.
Binance
Binance follows closely, with about 13% of Toncoin trades taking place on this well-known exchange. As one of the largest exchanges globally, Binance offers a reliable platform for TON traders. Binance listed Toncoin for trading on August 8, 2024.
Binance is the largest cryptocurrency exchange in the world, allowing users to buy, sell, and trade a wide variety of digital currencies. Founded in 2017 by Changpeng Zhao, Binance supports over 350 cryptocurrencies and offers various services, including a crypto wallet and options for earning interest on holdings.
To support the TON ecosystem, Binance introduced Toncoin (TON) on its Launchpool, making it the 56th project on the platform. Starting on August 15, 2024, users can earn TON tokens by staking BNB and FDUSD in special pools for 20 days. A total of 7.65 million TON tokens are available as rewards, with most of them coming from the BNB pool.
Additionally, Binance is introducing a feature called Super Earn, which allows users to earn a special annual percentage rate (APR) by locking their TON tokens in specific products.
Bybit
Coming to Bybit, 9.38% of all Toncoin trading volume is run on a UAE-based crypto exchange. Bybit is a popular cryptocurrency exchange that allows users to buy, sell, and trade various digital currencies.
Founded in 2018, it has quickly become one of the largest exchanges in the world, known for its fast and reliable trading platform. Bybit offers a range of services, including spot trading, derivatives trading, and an NFT marketplace.
Bybit has engaged with The Open Network (TON) ecosystem by supporting Toncoin on its platform. This integration allows users to trade Toncoin alongside other cryptocurrencies, helping to increase its visibility and accessibility within the market.
Toncoin holders on Bybit can also earn more rewards by staking their Toncoin in the exchange over time. Additionally, the exchange launched the Bybit Web3 TON Tournament to promote engagement within the TON ecosystem.
This tournament is designed to encourage users to participate in trading activities involving Toncoin (TON) and other cryptocurrencies on the Bybit platform.
Participants in the tournament can compete for rewards based on their trading performance. The event typically includes various challenges and milestones that traders can achieve to earn points or rankings. The more active and successful a trader is during the tournament, the higher their chances of winning prizes, which may include cryptocurrency rewards, exclusive NFTs, or other incentives.
Bitget
Another exchange with a large trading volume for Toncoin is Bitget. Bitget is a leading cryptocurrency exchange and Web3 company where users can buy, sell, hold, and earn cryptocurrencies. Founded in 2018 and based in Seychelles, it serves over 25 million users across more than 100 countries.
Bitget takes up 8% of the TON trading volume. This exchange is known for its strong security and wide range of trading options. The platform supports over 800 cryptocurrencies, including Bitcoin, Ethereum, and Bitget Token (BGB). It offers a variety of services such as spot trading, futures trading, margin trading, and earning options like savings and staking.
Bitget also features a multi-chain wallet, Bitget Wallet (formerly Bitkeep), which integrates asset management, swaps, NFTs, and more. Users can earn rewards through BGB, gaining benefits like fee discounts and access to exclusive tokens.
Beyond listing Toncoin, it recently launched a $20-million fund to boost the TON ecosystem. This initiative, developed in partnership with Foresight Ventures, is designed to support early-stage projects within The Open Network (TON).
HTX
HTX, formerly known as Huobi, is the exchange with the fifth-largest trading volume of Toncoin. It listed Toncoin in September 2022 and accounts for about 7.71% of Toncoin trades today. It’s a trusted platform with a large user base and robust trading tools.
HTX is a global cryptocurrency exchange founded in China in 2013. It has since expanded to countries like Hong Kong, South Korea, Japan, and the United States. HTX became a publicly listed company in Hong Kong in 2018 and rebranded from Huobi to HTX in September 2023 as part of its global growth strategy. Based in Seychelles, HTX operates in over 130 countries.
MEXC
MEXC is responsible for 4.2% of TON trading which was listed in February 2022. It’s a growing exchange, appealing to traders with its variety of supported coins and trading pairs. More than 20 months after listing Toncoin on the exchange, MEXC Ventures, the investment arm of MEXC exchange, announced an investment of over $10 million into the Toncoin ecosystem.
The investment is meant to support projects like Megaton Finance, TONPlay, Fanzee, and Sonet. MEXC exchange also offered 0% trading fees for Toncoin and planned to introduce a TON-based collateral lending service in the future.
MEXC is a cryptocurrency exchange founded in April 2018 in Seychelles. It has quickly become one of the top exchanges globally, serving over 10 million users across more than 170 countries.
The platform supports a wide range of cryptocurrencies, listing over 1,520 coins and more than 2,100 trading pairs, making it attractive for both new and experienced traders..
DeDust
Amongst all decentralized exchanges that have listed Toncoin, DeDust handles the largest volume pegged at approximately 4.16% of the Toncoin market. This exchange is smaller but still offers a solid platform for TON trading. Users have traded Toncoin since the launch of DeDust in Q1 2024.
DeDust is a cutting-edge decentralized exchange (DEX) and automated market maker (AMM) built natively on the TON Blockchain. It is designed with meticulous attention to user experience (UX), gas efficiency, and extensibility.
It features the innovative DeDust Protocol 2.0, which emphasizes these key aspects to provide a seamless trading experience for users on the TON network.
KuCoin
KuCoin, another well-known exchange, takes care of about 1.69% of TON trading. KuCoin is favored by users for its easy-to-use interface and range of supported cryptocurrencies. Toncoin was listed on Kucoin in October 2022.
KuCoin is a cryptocurrency exchange built with the mission to “facilitate the global free flow of digital value.” It claims to have an emphasis on intuitive design, a simple registration process, and a high level of security.
The platform supports futures trading, a built-in P2P exchange, the ability to purchase cryptocurrencies with a credit or debit card, and instant exchange services. It has facilitated 1.2 trillion in lifetime trading volume, supports over 30 million users worldwide, a large number of trading pairs, and offers nearly 700 cryptocurrencies for buying, selling, and trading.
As far back as December 2023, the exchange entered a $20,000 partnership with TON Foundation. The funds were meant to be shared by five mini-apps on Telegram built on the TON blockchain.
StonFi
StonFi is the second most DEX to have Toncoin traded on it after DeDust. StonFi controls 1.63% of the Toncoin trading volume in the market where users can swap Toncoin for other TON-based tokens and vice-versa.
It’s a newer exchange, but it’s quickly gaining popularity among traders. It was launched in October 2023, and since then till date, Toncoin has been accessible on it.
STON.fi is a decentralized exchange (DEX) built on the TON blockchain, specifically designed as an Automated Market Maker (AMM) that utilizes the Constant Product Market Maker algorithm. The platform features a web-based application that serves as a visual interface for interacting with smart contracts deployed on the TON blockchain.
STON.fi is fully non-custodial, meaning that users retain control over their funds, which are held in permissionless smart contract accounts. Withdrawals from these accounts can only occur through predefined methods encoded in smart contracts, ensuring security and transparency.
The platform offers virtually zero trading fees and low to zero slippage, leveraging the TON blockchain’s lower transaction costs and higher speeds compared to other blockchains like Bitcoin or Ethereum.
Gate.io
The tenth top exchange for trading Toncoin is Gate.io. Gate.io accounts for 1.35% of TON trades. The exchange has been around for a while and is trusted by many for its security and reliability. It listed Toncoin in November 2021, making it one of the oldest listings in the space.
Gate.io is a cryptocurrency exchange that was founded in 2013 and originally operated under the name Bter in China. After the Chinese government imposed restrictions on ICOs and crypto exchanges in 2017, it rebranded to Gate.io and transitioned into an international platform.
Today, Gate.io is accessible in over 200 countries, although it does not serve users in the United States, Canada, and several other regions due to regulatory restrictions.
The exchange supports more than 1,700 cryptocurrencies and offers a variety of trading options, including spot trading, margin trading, futures, and leveraged tokens.
Gate.io also provides features like automated trading tools, trading bots, and copy trading, catering to both novice and experienced traders. Users can purchase cryptocurrencies using fiat through credit or debit cards, making it more accessible for newcomers to the crypto space.
