Toncoin (TON) price has experienced a notable surge, rising over 10% in the past 24 hours. This sharp increase follows a recent partnership between UAE officials and Golden Visa, aimed at offering benefits to TON stakers. As a result, Toncoin emerged as one of the top gainers in the market today.
The strong rally indicates a growing upward trend in its valuation. Trading activity also spiked significantly, with a 270% rise in 24-hour volume, reaching $487 million.
Currently, Toncoin holds the 18th spot on CoinMarketCap, with a live market capitalization of approximately $7.32 billion, reflecting rising investor interest and market confidence.
Toncoin and UAE Launch Golden Visa Program for Crypto Stakers
Toncoin has partnered with the United Arab Emirates to offer a 10-year Golden Visa to investors who stake $100,000 worth of TON for three years. This initiative marks a historic collaboration between the blockchain industry and a national government, unlocking new opportunities for global crypto holders.
The program provides residency in Dubai without traditional requirements such as real estate investments or income thresholds. Instead, applicants stake their TON tokens in a decentralized smart contract.
The staked funds remain fully under the user’s control and are withdrawable after the three-year lock-in period. The program also extends residency to the investor’s spouse and family members.
Applicants are required to pay a one-time government processing fee of $35,000. In return, they receive long-term residency in the UAE, a country that continues to position itself as a global hub for blockchain innovation.
The news caused a 10% spike in the value of Toncoin, with investors showing high levels of confidence and a positive outlook in the world of crypto.
These decisions might open the door to governments working with blockchain projects, as market analysts believe this move could have precedence.
The project is not typical digital finance but it is a form of innovation by a blend of digital finance and immigration policy which conforms to the philosophy of the UAE in embracing emerging technologies.
The program extends a residency opportunity through staking instead of the traditional and more limited financial approach to one of the most appealing residency opportunities in the world.
The Golden Visa initiative that Toncoin is partnering with will be appealing to crypto entrepreneurs, investors, and online nomads across the world. It also gives priority that cryptocurrencies can be utilized functionally not only in trading and speculation.
Also Read: Japanese Bank Eyes Solana for Stablecoin Issuance, SOL the Next Big Thing?
TON Surges Above Resistance, Targets Higher
The TON price has seen a sharp upward movement in the past 4-hour session, surging past the $2.80 resistance mark. Currently trading near $2.97, TON appears to be gaining bullish momentum after consolidating within a narrow range for several sessions.
The price is currently experiencing a significant breakout after recovering within the $2.60 area. The Relative Strength Index (RSI) has been at 70.06, which indicates that TON has reached an overbought state following this breakout.
The RSI has rocketed and has crossed the moving average in a bullish direction, signifying high movement in a bullish direction.
In tandem with this bullish sentiment is Chaikin Money Flow (CMF), which has improved to +0.07. This implies reaching higher capital inflows, which augments the existing upward direction of prices. The CMF moving positively following a prolonged consolidation is quite an indication that buyers are back in place.
Looking ahead, immediate resistance lies at $3.20. A successful breakout above this level may open the door toward the $3.50 mark, with a further target set at $3.60 if bullish pressure continues. However, a rejection near $3.20 could trigger a pullback toward the $2.80 support level.
