Why hasn’t $TON been listed on Binance yet?
From the Telegram channel: t.me/tonsider
Ever since 2021, the community has been full of thoughts regarding the toncoin listing on Binance 💡. Just as with any key exchange in the game, a listing on a leading centralized exchange would mean a broader recognition 🤝 — and have a positive effect on the token price.
So why is it now, through 2 years of constant ecosystem growth and development, TON is still off the charts on Binance, Coinbase, and others? 👀
Here are several assumptions that could be the reason:
▪️ Volume: the trading volume of $TON remains relatively low in comparison to the rest of layer-1 networks 🍁. Up until the most recent bump, toncoin stood at about $30M trading volume — up from $10M when the price was still ⚖️
The number is now crossing the $60M mark, which is leading TON closer to the metrics featured by ADA 📉, for example, with a stable $80M number in daily trades. Or SOL, featuring $100M in daily volume 💵
The trading volume is what centralized exchanges make a score on 👃. As for an argument about far smaller tokens being listed, we come to the next point about TON’s supply and distribution 💰
▪️ Supply: toncoin has reached the max. supply set for the miners in the first half of 2022, putting 5B coins 🪙 into circulation — with more $TON getting generated as validator rewards. With a vast percentage of toncoin concentrated on the first 100 wallets 👝, and without a clear tokenomics description/vesting, the exchanges have a reason to be concerned…
If listed on Binance, for example, a token will enjoy high liquidity levels coming from the exchange users 🚰. This way, the exchange is connecting its users with an asset that could be dumped by unidentified parties — to take advantage of the user-provided liquidity 💧
TF has been making moves to hit the breaks of the toncoin inflation, for example when introducing the plan to burn 50% of TON fees; or encouraging the community to lock their tokens until 2025 via Believers Fund ☦️
▪️ FOMO: fear of missing out is also possible if you’re an exchange CEO 😎. Tokens listed and promoted on centralized exchanges are usually invested in by venture funds, frequently backed by exchanges themselves 🧠. Or bought over-the-counter before announcing the support. — Either way, the deal is no longer on the table in the case with toncoin, thus the crypto establishment cannot take advantage of it and play business as usual ▶️
Neither of the reasons is true; they’re just thought to be true 🌈. At the end of the day, even a Telegram announcement won’t do much in comparison to what we do as a community of writers, devs, and grinders.
Our vision and actions, here and now, will play a much bigger role in the long run than any exchange announcement or a sudden price bump 💪
From the Telegram channel: t.me/tonsider
