Why Toncoin (TON) is breaking out today
2025-07-06 09:46:47
Main Idea
Toncoin (TON) is experiencing a price surge following the announcement of a blockchain-based residency program in the UAE, which involves staking TON for residency and offers potential yield.
Key Points
1. Toncoin (TON) price surged 11% in 24 hours, reaching $3.02, with its market cap increasing by approximately $730 million to $7.43 billion.
2. The UAE residency program requires staking $100,000 in TON, potentially locking up significant supply (e.g., $100 million if 1,000 participants join).
3. The program offers fast-tracked visa approvals (within seven weeks) and allows staked TON to remain under user control, withdrawable after three years with a 3–4% annual yield.
4. Technical indicators show TON breaking above its 7-day moving averages, and its RSI rebounding from oversold levels, suggesting further upside potential.
5. The initiative aims to attract crypto investors, building on recent momentum from partnerships like xAI's collaboration with Telegram.
Description
Toncoin (TON) is surging today after unveiling a blockchain-based residency program in the United Arab Emirates. As of press time, TON was trading at $3.02, marking an 11% rally over the past 24 hours. Its market capitalization has also jumped from $6.7 billion to $7.43 billion in just one day, an increase of approximately $730 million. TON one-day market cap chart. Source: CoinMarketCap Beyond the fundamental news, Toncoin’s price chart shows possible signs of a breakout. TON has decisively mov...
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