Recent events surrounding the TON Foundation's claim regarding obtaining a Golden Visa for Toncoin investors have led to significant market changes.
Circumstances of the TON Statement
The Open Network Foundation announced the possibility of obtaining a Golden Visa in the UAE for Toncoin holders. This claim temporarily increased the cryptocurrency's value, but key UAE authorities, including the Federal Authority for Identity, Citizenship, Customs and Port Security, denied any connection to the statement. Official sources emphasized that digital assets are not related to the Golden Visa eligibility process.
Market Reaction to the Statement
As a consequence of the announcement, Toncoin's value dropped by 6%. After the rumors about the visa were refuted, the market reacted with a significant decrease, although overall trends in the cryptocurrency segment remained stable. Immediately following the event, trading intensity for Toncoin surged by over 250%, yet these figures were connected to movements amid uncertainty.
Importance of Fact-Checking
Such incidents underscore the need to verify crypto news and claims with official sources. The cryptocurrency market, like other financial markets, can be influenced by unverified information. Hence, it is crucial for investors to analyze the information. As Changpeng Zhao, former CEO of Binance, stated: 'I like to 'trust but verify'.
This incident exemplifies the volatility of the cryptocurrency market, where rumors and unverified claims can lead to instability. Official bodies urge investors toward caution and thorough research before making investment decisions.
