The Open Network's TON Token Jumps Over 8% Following Binance Listing

The Open Network's native currency Toncoin (TON) is up by 8.2% on the day, following an announcement that crypto exchange Binance would list the token. 

Per data from CoinGecko, TON is currently treading at $6.17, having surged to a peak of $6.41 Thursday morning. However, the token remains down on the week by almost 9%, following Monday's crypto market crash.

The token was listed on Binance for spot trading at 10 am UTC with the ‘seed tag’ applied. This tag identifies “innovative projects that may exhibit higher volatility and risks” compared to other listed tokens. Other Seed projects include Pepe (PEPE), Dogwifhat (WIF), and Ronin (RONIN).

In order to trade TON on Binance, users will need to pass a test every 90 days.

TON rides tap-to-earn wave

The Open Network is the home to the largest Telegram mini-apps that have taken over the crypto gaming scene. Many of these are simplistic tap-to-earn games that incentivize players to tap the screen in order to earn virtual currency which may potentially contribute to a future airdrop.

Most significantly, Notcoin (NOT), a clicker game with over 13 million users in its Telegram channel, launched its token on the network peaking at a market cap of $2.97 billion—the largest crypto gaming token launch of the year, so far.

More recently Hamster Kombat, a similar tap-to-earn Telegram game with the largest Telegram channel in the world with over 53 million subscribers, announced that it would launch its HMSTR token on The Open Network. Originally planned for July, the launch was delayed with no date set just yet.

Other projects launching tokens on The Open Network include Telegram games TapSwap and Yescoin as well as Pixelverse, with its clicker game PixelTap.