BtcTurk, Turkish Cryptocurrency Exchange, Begins Trading $TON on August 15 | CryptoTvplus

BtcTurk, a Turkish cryptocurrency exchange platform, has just proclaimed the inclusion of Toncoin ($TON) to its trading options. Currently, BtcTurk supports deposit and withdrawal functionality for $TON, enabling account holders to move this digital currency in and out of their profiles. The official trading pairs featuring $TON with the Turkish lira (TRY) and Tether ($USDt) are scheduled to start on August 15, at midday UTC.

Since launching on July 1, 2013, as one of Turkey’s pioneering centralized exchanges, BtcTurk has marked its place in history by conducting the inaugural Bitcoin transaction in Turkish lira. At present, the exchange caters to a growing user base exceeding 5 million registered individuals, while also providing continuous support for Turkish lira transactions through collaborations with seven local banks.

Established in 2013, BtcTurk stands out as a significant cryptocurrency exchange in Turkey, known for its wide user base within the European region and other countries. The exchange facilitates trading for an array of cryptocurrencies against the Turkish lira (TRY), which includes well-known currencies such as Bitcoin, Ethereum, and Litecoin.

Developed initially by Telegram, the TON blockchain has shown impressive performance and potential, noted for being among the quickest blockchains available. Its Total Value Locked (TVL) has reached heights of over $760 million and is currently estimated to be around $600 million.

TON’s growth has placed it in the top ten group for blockchains by TVL, attributed mainly to Telegram’s substantial user community, approximately 900 million strong. This level of participation is a key factor in the growth of the TON ecosystem and the expansion of decentralized applications (DApps) on the network.

Strides have been made to advance the TON blockchain’s infrastructure. Notable enhancements include the launch of a Bitcoin bridge to interconnect TON DApps with the Bitcoin network, as well as the addition of a layer-2 network to foster Ethereum Virtual Machine (EVM) compatibility. 

Additionally, the TON Foundation is actively collaborating and providing funds to foster nascent projects in the ecosystem. For example, a $20 million fund has been introduced in partnership with Bitget and Foresight Ventures to stimulate development within the TON network. 

Moreover, the foundation works alongside groups such as 1inch and Sign to conceive Triangle, a Web3 startup accelerator that zeros in on play-to-earn mini-games.