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- Toncoin is now supported on the Revolut app.
- The price of TON remains in uptrend mode amid a broader ecosystem boost.
Global fintech platform Revolut recently added Toncoin (TON), the Telegram-backed cryptocurrency, to its list of supported altcoins. The integration highlights the growing popularity of the TON blockchain and demonstrates a convergence between Web3 and the traditional finance industry.
TON Trading on Revolut Available to UK and EU Users
As revealed in an X post, retail users can now begin selling and buying TON on the Revolut App. At the moment, the service is only available to residents in the United Kingdom (UK) and the European Union (EU). However, plans are underway to extend TON trading on Revolut to other jurisdictions like Australia, Brazil, New Zealand, and Singapore.Â
Revolut listing $TON is huge; it’s probably even bigger news than when Binance did it, as Revolut is primarily a fiat banking/card service. TON marches on towards global adoption for real-world payments! đź’Ž https://t.co/EbSjFvUlm1
— Tonkeeper (@tonkeeper) September 13, 2024
The official X account of the Tonkeeper wallet spotlights the announcement and describes the listing as huge. The platform says the listing of TON on Revolut is bigger news than when Binance, the world’s largest crypto exchange, made a similar move.Â
This sentiment is based on Revolut being primarily a fiat banking/card service. Still, Revolut represents one of the main platforms for the general public’s access to cryptocurrencies. Oleg Andreev, CEO, Revolut said
“Revolut’s decision to support TON continues the trend of rapid mainstream adoption of TON. We are happy to see 45 million of Revolut customers gaining an easy way to exchange legacy currencies for TON and use Tonkeeper to discover the vibrant ecosystem of TON dapps and services.”
With over 45 million customers registered on the Revolut App, the integration expands TON’s accessibility. It opens new adoption opportunities to both novice and experienced crypto traders.
The integration is also advantageous for Revolut as it could help increase its user base as more crypto enthusiasts flock to the platform to trade Toncoin.Â
Overall, the TON listing on Revolut highlights the increasing relevance of crypto in the traditional finance sector. The news quickly sparked excitement within the crypto community, with many hailing the TON blockchain for taking such a bold step.Â
Toncoin’s Current Performance
The announcement was followed by bullish momentum in the price of TON, which pushed it to trade in the $5 range. At press time, the price of TON was trading at $5.5, demonstrating a 3.0% increase in 24 hours. The 24-hour trading volume, however, registered a 2.4% decrease to $221 million.
TON continues its uptrend despite ongoing investigations on Telegram and the arrest of its CEO, Pavel Durov. Notably, the coin has shrugged off increased selling pressure, regaining lost price levels. Furthermore, TON is set on further gains amid a resurgence in the broader crypto market.
Another key factor driving the Toncoin surge is the launch of mini-game apps on the Telegram platform. The Toncoin Telegram relationship is one of the most beneficial at the intersection of Web2 and Web3. Mini-game apps launched on Telegram, such as Notcoin (NOT) and DOGS (DOGS), gave huge exposure to TON, fueling interest and driving demand.Â
In a recent update, the TON Foundation announced a partnership with Curve Finance to develop a stable swap project on the TON blockchain. This could further help solidify the blockchain’s position in Web3. With a forecast to jump past $10 before the year’s end, analysts believe TON is worth betting on.
