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Business Upturn
19 hours ago
- Business
- Business Upturn
Toobit Integrates TON for USDT Deposits and Withdrawals, Offering Faster and Cheaper Transactions
GEORGE TOWN, Cayman Islands, June 20, 2025 (GLOBE NEWSWIRE) — Toobit, an award-winning cryptocurrency exchange, today announces the integration of the TON (The Open Network) blockchain for Tether (USDT) deposits and withdrawals on its Spot platform. This upgrade offers traders a faster, more cost-efficient, and scalable option for managing USDT transactions. By adding TON support, Toobit is strategically tapping into one of the fastest-growing blockchain ecosystems, with over 153 million total created addresses as of 2025. The addition will also enhance the speed and affordability of USDT transfers, helping users optimize their trading and asset management strategies. 'We are thrilled to bring the benefits of the TON network to our users,' said Mike Williams, Chief Communication Officer at Toobit. 'We saw a clear demand for more network diversity and greater capital efficiency. Integrating TON is a direct response towards providing a reliable, high-speed, and extremely low-cost rail for USDT.' Key benefits for Toobit traders Improved capital efficiency: Traders can now move USDT with network fees averaging just $0.01 to $0.02 per transaction. More capital can be used for trading, not for network costs. Traders can now move USDT with network fees averaging just $0.01 to $0.02 per transaction. More capital can be used for trading, not for network costs. Faster strategy execution: With transaction finality achieved in approximately five seconds, the integration allows for the near-instantaneous transfer of assets. With transaction finality achieved in approximately five seconds, the integration allows for the near-instantaneous transfer of assets. Expanded network choice: By adding TON, Toobit connects its users to a network that is rapidly expanding, now boasting over 9 million active wallets and a Total Value Locked (TVL) of more than $155 million in its DeFi ecosystem. To start using TON for USDT transfers, users can simply go to their USDT wallet on Toobit and select TON as their preferred network for deposits or withdrawals. The move comes in response to growing demand for more efficient blockchain networks. Known for its high throughput, multi-blockchain architecture, and minimal fees, TON can theoretically process millions of transactions per second, making it an ideal solution for active traders. About Toobit Toobit is where the future of crypto trading unfolds—an award-winning cryptocurrency derivatives exchange built for those who thrive exploring new frontiers. With deep liquidity and cutting-edge technology, Toobit empowers traders worldwide to navigate the digital asset markets with confidence. We offer a fair, secure, seamless, and transparent trading experience, ensuring every trade is an opportunity to discover what's next. For more information about Toobit, visit: Website | X | Telegram | LinkedIn | Discord | Instagram Contact: Davin C. Email: [email protected] Website: Disclaimer: This content is provided by Toobit. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice. Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed. Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility. Globenewswire does not endorse any content on this page. Legal Disclaimer: This media platform provides the content of this article on an 'as-is' basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above. A photo accompanying this announcement is available at Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Yahoo
02-06-2025
- Business
- Yahoo
TON Surges 3.7% in V-Shaped Recovery After Finding Strong Support at $3.11
Geopolitical tensions and ongoing trade disputes between major economies create market volatility, with traditional financial markets showing correlation to crypto movements. The cryptocurrency market continues to navigate choppy waters amid escalating global economic uncertainties. TON, the native token of The Open Network, has shown remarkable resilience despite broader market pressures, recovering from a recent correction to establish support above the $3.10 level. This recovery comes as a symmetrical triangle pattern suggests potential for a 40% price movement in either direction, with current indicators leaning toward bullish momentum. Technical Analysis • TON-USD demonstrated remarkable volatility over the 24-hour period, establishing a trading range of 0.117 (3.7%). • Price action formed a clear V-shaped recovery pattern after reaching a peak of $3.21 before correcting to $3.10. • Strong volume support emerged at the $3.11 level where buying pressure appeared across multiple hourly candles. • Recovery phase showed increasing momentum with higher lows forming a clear uptrend channel. • Price reclaimed the $3.15 level with decreasing volume suggesting consolidation. • In the last hour, TON-USD surged from $3.12 to $3.15, representing a 1.8% gain. • A decisive breakout occurred when price penetrated the $3.14 resistance level with strong volume confirmation. • Technical structure, combined with decreasing selling pressure in the final minutes, suggests potential continuation of the uptrend if the newly established support at $3.15 in to access your portfolio
Yahoo
29-05-2025
- Business
- Yahoo
Toncoin falls 7% as Elon Musk refutes Telegram founder's claims of a $300 million xAI partnership
Toncoin, the cryptocurrency tied to the Dubai-based messaging app Telegram, tumbled 7% on Thursday after tech billionaire Elon Musk denied news of a $300 million partnership between Telegram and xAI, a Musk-led AI company. Toncoin jumped 21%, from $3.01 to $3.65, on Wednesday after an announcement by Telegram CEO Pavel Durov that he and Musk had reached an agreement to integrate xAI's chatbot Grok into the messaging platform. 'This summer, Telegram users will gain access to the best AI technology on the market,' Durov wrote on X. '@elonmusk and I have agreed to a 1-year partnership to bring xAI's @grok to our billion+ users and integrate it across all Telegram apps.' According to Durov, Telegram would receive $300 million in cash and equity from xAI, and the messaging platform would keep 50% of the revenue from xAI subscriptions sold on Telegram. However, details of the partnership soon came into question as Musk contradicted Durov's claims, writing on X that, 'No deal has been signed.' Durov quickly responded to Musk saying that while it was true that the deal had not yet been signed, it was agreed upon 'in principle.' 'Formalities are pending,' Durov wrote. Telegram fans were not impressed by the exchange, with one X user writing: 'Agreed in principles doesn't mean anything.' Another user wrote, 'Well you just blew the deal.' After peaking at $3.65, Toncoin fell to a low of $3.26 on Thursday, losing 11% before recovering slightly. Toncoin is the native token on the The Open Network, or TON. TON is a blockchain that operates as a separate entity from Telegram, but is still associated with the app, allowing the messaging platform's 1 billion users to pay for games, advertisements and other decentralized applications. News of the proposed deal comes as Durov announced via Telegram on Thursday that the company has raised $1.7 billion from convertible bonds. A portion of the funds will go toward paying off $955 million of the company's existing debt, due in 2026, according to Bloomberg. Earlier this year, Toncoin surged 24% after Durov was permitted to return home to Dubai after being barred from leaving France amid an ongoing investigation. Durov was arrested by French authorities in August on suspicion that Telegram was abetting the distribution of child sexual abuse material, drug trafficking and other criminal activities by users. Durov has denied those allegations and maintained his innocence, writing in March, 'When it comes to moderation, cooperation, and fighting crime, for years Telegram not only met but exceeded its legal obligations.' Telegram itself has also rebutted the claims that it is responsible for illicit activity, writing on X in the wake of Durov's arrest: 'It is absurd to claim that a platform or its owner are responsible for abuse of that platform.' This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
21-05-2025
- Business
- Cision Canada
MEXC Partners with TON for Groundbreaking $1 Million Crypto Event
VICTORIA, Seychelles, May 21, 2025 /CNW/ -- MEXC, a leading global cryptocurrency exchange, today announced an industry-disrupting partnership with The Open Network (TON) that introduces a $1 million reward pool campaign and fundamentally challenges established exchange revenue models. Launching today and running through June 20, the "TON Triumph" campaign eliminates all trading fees on TON pairs while offering staking returns that dwarf typical yields by up to 100 times. In an unprecedented move that signals a significant shift in exchange competition strategies, MEXC will offer new users access to staking opportunities with up to 400% APR on TON tokens—creating what analysts describe as the most aggressive user acquisition campaign in the cryptocurrency exchange sector this year. "This partnership represents a strategic inflection point for both the TON ecosystem and the broader exchange landscape," said Tracy Jin, COO of MEXC. "By eliminating all typical entry costs into TON trading for a full month while simultaneously offering returns that outpace all competitors, we're not simply running a promotion—we're fundamentally changing how users engage with emerging Layer-1 ecosystems." Campaign Transforms Market Access and Investment Returns The 30-day campaign introduces multiple disruptive elements that directly challenge other exchanges' TON market dominance: Zero-Fee Trading Structure: Complete elimination of fees on TON/USDT, TON/USDC, and TON/EUR spot pairs, TONUSDT futures, and all TON/USDE network withdrawals—removing traditional revenue mechanisms that have defined exchange business models. Industry-Leading APR: New users can stake TON tokens to earn up to 400% APR, positioning the offering at 100 times higher than typical cryptocurrency staking returns and several hundred times above traditional banking products. Democratized Trading Access: Zero-fee structure gives retail traders access to the same economics previously available only to professional and institutional traders, significantly leveling the playing field. Limited-Time, First-Come Allocation: High-yield staking pools operate on a first-come, first-served basis with participants limited to 250 TON tokens per user, creating immediate urgency for early participation. The campaign also includes passive rewards of up to 8% daily APR for USDE holders, spot trading rewards from a pool of 32,500 TON, and a futures trading competition with 100,000 USDT in bonuses. TON Ecosystem Expansion and Infrastructure Advancement This partnership is pivotal for The Open Network, which continues to gain momentum through its connection to Telegram's 900+ million users and growing developer ecosystem. The collaboration represents a significant leap forward in TON's accessibility and adoption curve. By drastically reducing barriers to entry while providing exceptional incentives, the campaign accelerates the integration of new participants into the TON ecosystem, coinciding precisely with the network's rapidly expanding technical capabilities and use cases. The campaign also showcases MEXC's platform capabilities, demonstrating advanced infrastructure that can handle zero-fee trading across multiple markets simultaneously while managing high-volume staking operations with variable APR structures. Time-Sensitive Opportunity with Global Access The $1 million in rewards is available exclusively during the 30-day window, with certain high-value components like the 400% APR staking pool starting on May 21st and operating on a capped allocation basis. MEXC has created a streamlined onboarding process that allows new users to complete registration and KYC verification in minutes, with the campaign accessible to eligible participants globally through both web and mobile interfaces. About MEXC Founded in 2018, MEXC is committed to being "Your Easiest Way to Crypto." Serving over 40 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding. About TON The Open Network (TON) is a fully decentralized layer-1 blockchain designed for mass adoption. Originally conceived by Telegram and now developed by the open TON Community, the network offers exceptional scalability, accessibility, and ease of use. Risk Disclaimer: The information provided in this article regarding cryptocurrencies does not constitute investment advice. Given the highly volatile nature of the cryptocurrency market, investors are encouraged to carefully assess market fluctuations, the fundamentals of projects, and potential financial risks before making any trading decisions.
Associated Press
20-05-2025
- Business
- Associated Press
LITRBULL's GameFi Token $LITR Launches on MEXC, Powering a Strategy Game Ecosystem on TON Blockchain
05/20/2025, London, UK // KISS PR Brand Story PressWire // LITRBULL, a rising GameFi project that blends humor, strategic gameplay, and blockchain innovation, announces the official listing of its native token, $LITR, on global cryptocurrency exchange MEXC. Built on The Open Network (TON), LITRBULL redefines what it means to be a 'utility coin' by combining viral culture with tangible in-game utility. Players earn and use $LITR in a Telegram-based strategy game inspired by classics like Heroes III, where every click, farm upgrade, and battle plays into a dynamic, token-driven economy. The game currently boasts over 300,000 users, with 170,000 monthly active users and 5,000–7,000 daily players. 'LITRBULL isn't just a meme with bulls — it's a meme with a mission,' said a representative from LITRBULL. 'We're building a full-fledged financial ecosystem that makes blockchain fun, rewarding, and accessible to everyone.' In discussions with developers at LITRBULL, emphasized that the project is more than just entertainment: 'LITRBULL isn't just a meme with bulls — it's a meme with a mission. We're building a full-fledged financial ecosystem that makes blockchain fun, rewarding, and accessible to everyone.' LITR serves as the backbone of the LITRBULL game economy with a wide range of uses: The MEXC listing opens up $LITR trading to a global audience, driving liquidity and accessibility for the project's fast-growing player base. About LITRBULL LITRBULL is a Telegram-native GameFi project built on the TON blockchain, combining the virality of memecoins with a strategy-based RPG clicker game. Launched in 2024, LITRBULL has quickly attracted over 300,000 users with its unique blend of humor, community-driven gameplay, and decentralized token utility. The project is part of the emerging wave of games redefining user engagement in the Telegram and TON ecosystem. Follow LITRBULL on Twitter and Telegram for updates, events, and community news. Media Contact: Robert Penington [email protected]
