Toncoin (TON) has shown a remarkable increase linked to the launch of the Golden Visa program in the United Arab Emirates. This program provides a new pathway for obtaining permanent residency in exchange for investments in Toncoin.
Details of Toncoin’s Golden Visa Initiative
The Golden Visa program allows investors who invest $100,000 in Toncoin for three years to obtain permanent residency in the UAE. Investors are required 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 can also earn an annual yield of 3% to 4%.
Price Surge of Toncoin After Announcement
Following the announcement, the price of Toncoin jumped from below $2.75 to $3.08, marking a 12% increase in a short period. This movement brought Toncoin closer to significant resistance levels, breaking a prolonged downtrend.
Prospects and Impact on the Crypto Industry
The announcement of the Golden Visa has led to a substantial increase in trading volume and optimistic expectations for Toncoin. Experts note that Telegram's large user base provides a tangible advantage for the program. Applications are expected to conclude in under seven weeks, potentially making the UAE one of the fastest options for crypto-backed immigration. Industry specialists emphasize that this initiative promotes the self-sovereign digital identity concept and creates sustainable demand within the Toncoin ecosystem.
The Golden Visa program in the UAE appears to be a significant innovation for the cryptocurrency market, potentially leading to increased interest and new opportunities for investors looking to expand their horizons through Toncoin.
