CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
  • Market Updates
  • BTC Analysis
  • ETH Analysis
  • XRP Analysis
  • Interviews
CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
Home » Crypto Bits » Binance to Temporarily Halt TON Deposits and Withdrawals Later This Month: Here’s Why

Binance to Temporarily Halt TON Deposits and Withdrawals Later This Month: Here’s Why

Author: Dimitar Dzhondzhorov

Last Updated Aug 23, 2024 @ 13:07

Check out why certain services on Binance involving TON will be temporarily disrupted at the start of next week.

Getting your audio player ready...

TL;DR

  • Binance will temporarily suspend TON deposits and withdrawals on August 26, but trading will remain unaffected.
  • The company introduced certain trading pairs involving the altcoin earlier this month, contributing to its price rally as of late.

What Is the Reason?

The world’s leading cryptocurrency exchange will perform wallet maintenance for The Open Network (TON) on August 26, temporarily suspending TON deposits and withdrawals. The maintenance is expected to take about two hours, after which all services will be resumed.

Binance assured that the initiative will not impact token trading on the aforementioned network. It also promised to handle all technical requirements for users. 

The exchange stated there would be no further announcements on the above, meaning that users should question if they find additional information about this on the Internet.

Earlier this month, Binance showed support for Toncoin (TON) – the native cryptocurrency of The Open Network – by listing the TON/BTC, TON/USDT, TON/FDUSD, and TON/TRY trading pairs.

The price of the altcoin reacted positively to the news, spiking by approximately 10% on a 24-hour scale and reaching $6.40. 

TON’s Success in 2024

The cryptocurrency has been among the best market performers in the past several months, witnessing a price rally of over 190% since January 1, 2024.

TON’s impressive rally began in late February when Pavel Durov, the CEO of the messaging application Telegram, announced that the platform would start sharing 50% of the ad revenue generated on Telegram channels with the channel owners. He also said that these payments would be made exclusively in Toncoin.

“Similar to our approach with Telegram usernames on Fragment, we will sell ads and share revenue with channel owners in Toncoin. This will create a virtuous circle, in which content creators will be able to either cash out their Toncoins – or reinvest them in promoting and upgrading their channels,” Durov’s statement reads.

TON continued its uptrend in the following months, and in April, it became one of the top 10 biggest cryptocurrencies after flipping Cardano (ADA).

The rally happened shortly after the Ton Society (a community-driven entity linked to The Open Network) partnered with the AI company HumanCode. As part of the collaboration, the former offered an incentive of one million TON tokens to encourage users to adopt HumanCode’s palm-scanning technology.

While many leading cryptocurrencies experienced a correction during the first half of June, this was not the case with TON, which tapped a new all-time high of around $8.18. The price almost reached that peak in July before experiencing enhanced volatility and eventually settling to the current level of around $6.60.

TON Price
TON Price, Source: CoinGecko

 

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Tags: Binance Toncoin (TON)
Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram

About The Author

Dimitar Dzhondzhorov
More posts by this author

Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.

Join Our Community

FacebookX YouTubeTelegram


Editorials
10 Best Meme Coins to Watch in June 2025

10 Best Meme Coins to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

11 Best Crypto Presales to Consider in June 2025

11 Best Crypto Presales to Consider in June 2025

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

The 5 Best Bitcoin Mining Pools in 2025: Complete Guide

The 5 Best Bitcoin Mining Pools in 2025: Complete Guide

Join Our Newsletter
Become a CryptoPotato VIP
One Weekly Email Can Change Your Crypto Life.
Sign-up FREE to receive our extended weekly market update and coin analysis report
We NEVER send spam. You can unsubscribe at any time.
Invalid email address
Thanks for subscribing!
Footer Logo
About
Advertise on CryptoPotato
About Us | Contact Us | Careers
Editorial Policy
Terms of service | Privacy Policy | GDPR
More Sections
IEO List | Evaluations
Airdrops
Scholarship
Disclaimer
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
© Copyright CryptoPotato 2016 - 2025
Scroll to top
One Daily Email Can Change Your Crypto Life.

Sign-up FREE to receive our extended daily market update and coin analysis report

We never send SPAM. You can unsubscribe at any moment
Invalid email address
Thanks for subscribing!