🚨 #Toncoin (TON) drops about 6% after the 'dream' of Golden Visa in UAE is rejected
🔸 Previously, TON surged ~10% to nearly $3.05, after TON Foundation announced: staking $100K TON for 3 years + a fee of $35K could help apply for a 10-year Golden Visa in UAE – this news spread widely, including a share by Pavel Durov.
🔸 However, UAE through Emirates News Agency (both ICP, SCA, VARA) officially rejected this, affirming there is no link between staking TON and the Golden Visa program.
🔸 Result: TON dropped from its peak, decreasing by 6% to just **$2.84–2.79** on the morning of 7/7/2025.
📉 Technical analysis & market reaction:
The price chart is forming a descending triangle pattern (lower highs, support around $2.80); if this level is lost, the next target could drop to $2.38 or even $2.02.
According to Decrypt, the lack of official confirmation from the UAE Government makes this information unreliable – not enough basis to turn the news into an official trend.
🎯 Conclusion & Notes for investors:
There is no “crypto visa” — this is just a media pump & dump.
The price of TON reacts quickly, and the downward target remains concerning if the $2.80 support is broken.
Recommendation: Closely monitor the market to decide whether to “cut losses” or buy the dip around the support area.
