$TON will now be available for trading on Turkish cryptocurrency exchange BtcTurk as it has recently announced the listing of Toncoin ($TON). As of now, deposits and withdrawals for $TON are live, allowing users to transfer the cryptocurrency to and from their BtcTurk accounts. Trading for $TON against the Turkish lira (TRY) and Tether ($USDt) is set to commence on August 15 at noon UTC.
BtcTurk, one of Turkey’s first centralized exchanges, made history on July 1, 2013, by facilitating the first Bitcoin purchase in Turkish lira. Today, the platform serves over 5 million registered users. It offers 24/7 Turkish lira deposits and withdrawals through partnerships with seven Turkish banks.
BtcTurk is a cryptocurrency exchange based in Turkey, established in 2013. It is recognized as one of the largest exchanges in the country and has gained a significant user base in Europe and beyond. The platform allows users to trade a variety of cryptocurrencies, including Bitcoin, Ethereum, and Litecoin, primarily against the Turkish lira (TRY).
The TON blockchain, originally developed by Telegram, has demonstrated strong capabilities and potential within the blockchain ecosystem. Notably, it’s one of the fastest blockchains, and its Total Value Locked (TVL) peaked at over $760 million, though it currently stands at around $600 million.
This growth ranks it among the top ten blockchains by TVL, largely driven by Telegram’s extensive user base of around 900 million. This user engagement is crucial for the ecosystem’s development and the proliferation of decentralized applications (DApps) on the platform.
The TON blockchain has also made strides in enhancing its infrastructure. Recent upgrades include the introduction of a Bitcoin bridge, which connects TON’s DApps with the Bitcoin network, and the implementation of Ethereum Virtual Machine (EVM) compatibility through a new layer-2 network.
Moreover, the TON Foundation has initiated various partnerships and funding opportunities to support early-stage projects. For instance, a $20 million fund was launched in collaboration with Bitget and Foresight Ventures to encourage innovation within the TON ecosystem.
Additionally, the foundation has partnered with organizations like 1inch and Sign to create Triangle, a Web3 startup accelerator focused on play-to-earn mini-games.
