DOGS launch impacts crypto exchanges and Telegram Wallet



  • DOGS launched on exchanges on Aug. 26, with on-chain claims open to millions of Telegram and TON users.
  • Services for crypto exchanges such as Binance and Bybit slowed.

Telegram Wallet announced on Monday that the launch of TON-based meme coin Dogs (DOGS) had many crypto exchanges experiencing disruption to their services.

The announcement followed similar updates from Binance and Bybit, top tier exchanges that listed the meme token for trading on Aug. 26.

Telegram Wallet reports disruption amid DOGS launch

DOGS token’s on-chain claims and trading debut saw the Telegram Wallet’s functionality slowed as millions of holders began claiming tokens.

“The $DOGS release has created quite a buzz! Several crypto exchanges, as well as Wallet (albeit partially), are running less smoothly than usual. Our exchange feature is temporarily unavailable, but don’t worry — we’re working hard to resolve this and get everything back to normal soon,” Wallet wrote.

Bybit also provided an update noting resumption of normal service after a brief disruption.

Earlier, Binance listed DOGS for trading after adding it to the Launchpool as the 57th project. The exchange added trading pairs for USDT, BNB, FDUSD and TRY.

Binance later provided an update noting that its upgrade of the TON network was taking longer than anticipated “due to unforeseen issues.”

Delays saw Binance suspend deposit and withdrawal for TON – the Open Network token that plummeted after Telegram CEO Pavel Durov’s arrest in France.

DOGS traded around $0.001182, roughly 32% down on the day after debuting at $0.0018.

Meanwhile, TON price was around $5.57, nearly 3% down in the past 24 hours and 18% in the red over the past week





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