The Open Network’s main asset, Toncoin (TON), surged remarkably due to a newly announced “Golden Visa” program in the United Arab Emirates (UAE). This strategic opportunity allows applicants who invest $100,000 in TON over three years to obtain permanent residency. The news propelled the altcoin ‘s value from below $2.75 to $3.08, marking a 12% increase, and represented the largest hourly candle burn seen in weeks. This movement not only brought the TON coin closer to resistance but also broke a prolonged downtrend.
Details of Toncoin’s Golden Visa Initiative
The program mandates investors to retain their cryptocurrency in their wallets and lock it for three years through a smart contract. This arrangement ensures that funds remain under the investor’s control, without any intermediaries. Participants simultaneously earn an annual yield of 3% to 4%.
The visa extends to the investor’s spouse, children, and even parents, with only a standard $35,000 UAE application fee as the additional cost. The entire process operates on the TON Blockchain’s decentralized smart contract, securing complete transparency and automation.
Collaboration Drives TON Coin’s Valuation Higher
Following the announcement, the trading volume soared, and TON saw an upward price movement toward key resistance zones. Experts point out that Telegram’s extensive user base provides an early advantage and traction for the program.
Applications are expected to conclude in under seven weeks, potentially making the UAE the fastest option for crypto-backed immigration solutions. This development could spark competition as other nations contemplate similar models.
Industry specialists emphasize that this real-world application enhances the self-sovereign digital identity concept and is set to create sustainable demand within the TON ecosystem.
