Toncoin explodes 12% in 2 hours on the back of UAE’s Golden Visa rules

Key Points

1. Toncoin (TON) surged 12.1% in two hours following the UAE's Golden Visa announcement, which requires staking $100k in TON for three years and a $35k processing fee.

2. The $2.7-$2.8 price range has been a strong support level since April, with $2.5 acting as another psychological support.

3. Despite the short-term surge, technical indicators like the CMF and A/D show bearish trends, with TON struggling to breach the $3 resistance level.

4. The UAE's Golden Visa program offers an annual yield of 3%-4% on staked TON, attracting long-term holders and potentially driving future uptrends.

5. Coingecko co-founder Bobby Ong highlighted the program as a lower-entry alternative to real estate investments, calling it an 'amazing partnership story'.