Binance has added Toncoin (TON) to its Simple Earn locked products, offering an Annual Percentage Rate (APR) of up to 5.9% during a promotion running from September 3 to September 23.
Users can choose from 30, 60, or 90-day lock options with varying APRs, depending on subscription limits and duration.
Toncoin Market Response The announcement led to a modest 1% increase in Toncoin’s price, now trading at $5.24. However, the token remains under pressure, facing a 14% decline over the past month, partly due to legal issues surrounding Telegram, the platform associated with Toncoin.
Telegram’s Ongoing Legal Issues Telegram is under investigation in South Korea for allegedly spreading explicit deepfake content, adding uncertainty to Toncoin’s future despite Binance’s efforts to boost its appeal.
Binance Expands Offerings Alongside Toncoin, Binance also listed FLUX futures, resulting in a nearly 25% price surge for FLUX, sparking positive sentiment in the crypto community.