๐ซ Golden Visa Dreams Shattered: UAE Rejects TON Staking Offer โ Toncoin Dips! ๐ฐ๐ฅ
Toncoin ($TON ) faced a sharp reality check after a brief weekend rally to $3, fueled by excitement over a supposed UAE golden visa scheme backed by the TON Foundation. But the hype was short-lived.
๐ What Happened?
TON Foundation CEO Max Crown announced a plan offering 10-year UAE golden visas in exchange for:
$100,000 worth of TON staked for 3 years
A one-time payment of $35,000
He pitched it as a real-world use case for crypto adoption. But UAE authorities were quick to shut it down.
๐ซ Official Rejection:
On Sunday, top UAE regulators โ including the ICP, SCA, and VARA โ issued a statement firmly rejecting any partnership with the TON Foundation for issuing golden visas.
๐ Market Impact:
Toncoin closed at $2.83 on Sunday (+3.31%) but has started sliding again.
As of Monday, TON was down nearly 1%, with short-term buyers pulling back.
Futures traders lost interest, and the long/short ratio dropped, showing fading bullish momentum.
๐ Technical Breakdown:
TON failed to break above the 7-month resistance trendline from Dec 4 to June 10.
Current pullback eyes $2.73 support (June 22 close).
A decisive break below $2.73 could push TON to $2.52 โ its lowest close of 2025.
โ ๏ธ Investor Advisory:
With the UAE distancing itself from TONโs proposal, sentiment has turned sour. Officials have urged caution to all potential investors.
๐ Reality check: Crypto promises โ guaranteed utility.
๐ข Follow @bullishbanteer for sharp crypto updates, trend breakdowns & trade setups!
