Excitement – Earlybirds Invest

On July 6th, Ton Foundation CEO Max Crown announced a “groundbreaking initiative” to provide Toncoin with X

We have an “exclusive opportunity” to protect our 10-year UAE Golden Visa.

The program requires applicants to wager $100,000 worth of Toncoins for three years and pay a one-time processing fee of $35,000. After a three-year lockup period, the piling funds were clearly unlocked, during which the applicant reportedly achieved an annual yield of 3-4% (apy) Tokens on their pile.

The Ton Foundation website highlights several important benefits. Includes prompt approval within 7 weeks of document submission, a simple process that does not require you to purchase property or meet income thresholds, and family members (spouse, children, parents) at no additional costs exceeding standard government fees. Staking is done through decentralized smart contracts on Tonblockchain. It claims to ensure transparency and security.

The program claims to provide a capital-efficient alternative to the traditional UAE Golden Visa Route. This means that Ton Foundation typically requires a minimum investment of around $540,000 in real estate or fixed deposits, often linked to non-current assets and longer processing times. The Ton Golden Visa initiative is touted as a faster, more affordable, more affordable, and digital native pathway, in line with the nation’s ambitions to become a global cryptography and Web3 hub.

The announcement immediately had an impact on Toncoin’s market performance. Shortly after the news broke, Toncoin prices rose 12%. At the time of writing, the tokens are trading at around $2.8944, reflecting a 5.36% increase over the past 24 hours. Furthermore, according to Coindesk Research’s technical analysis model, the current 24-hour average trading volume is approximately 251.54% higher than the 30-day average, indicating a growing market interest and activity.

Despite the enthusiasm, the announcement sparked controversy within the crypto community. Coingecko co-founder and COO Bobby Ong praised the partnership as a “amazing story” that could attract whales and provide strong purchasing support to Toncoin, but expressed hope that the initiative is not a temporary scheme.

Conversely, “Joe Hedgedhog” (“@joehedgedhog” on x)The investment partner of Sigil Fund pointed out that this is not an official UAE government partnership, but a third-party law firm that uses Ton as a proxy, and a third-party law firm to assist clients applying for Golden Visa under the Entrepreneur category. He noted that the company may have used cryptocurrency and that staking requirements serve as a token utility sink rather than government mandate.

Further skepticism came from “Ivambi.” (“@ivangbi_ “on x)Head of Strategy and Business Development at Gearbox Protocol, described the announcement as misleading. According to this perspective, the law firm will receive a non-refundable $35,000 fee and attempt to submit an application to the UAE government. This will ultimately determine approval. He argued that Staked Ton balance is just one of several requirements and may no longer be relevant in the updated rules. He went on to say that the lack of approval for Tonstaker blankets means acceptance is uncertain and that the program could function primarily as a marketing tool in conjunction with token utilities.

Changpeng Zhao (CZ)co-founder and former CEO of Binance expressed caution in the announcement of Ton Foundation’s UAE Golden Visa, but highlighted some uncertainty. He noted conflicting information about the legitimacy of the program, including the allegation that a $35,000 fee would be sent primarily to legal agents rather than government, and that the language of the website might suggest misleading the visa guaranteed when soaking $100,000 in Toncoin.

CZ also said Theuae regulators will classify staking as a regulatory activity where Ton may lack a license. Importantly, he pointed out that the official UAE government channels do not currently recognize Staking Toncoin as visa qualifications and instead list standard Golden Visa categories.

In a follow-up post, CZ repeatedly reiterated his careful optimism, highlighting the need to “trust but verify.” He acknowledged the potential benefits of such programs, but emphasized that official government partnerships and announcements are essential to legitimacy. His stance supports innovation and Ton’s founder Pavel Durov, balancing wise skepticism about the current situation of the program.

The UAE Entrepreneur Visa Category, which the programme believes is targeting, is designed for individuals who own economic projects of a technical or innovative nature. Applicants must provide approval letters from a certified UAE auditor confirming the value of the project (AED at least 500,000)local governments examining the innovative characters of the project, and certified UAE business incubators establish proposed activities within the country.

Technical Analysis Highlights

Prices surged from $2.75 to a peak of $3.06, with a total range of $0.34 (12.4%).
The rally began suddenly at 7:00am on July 6th, with volume surged to almost 13 million people.
An extraordinary surge of 57.5 million volumes at 8:00 hours pushed tons to that height.
Support formed around $2.86-2.89 with bulk purchases.
The resistance appears at $3.03, suggesting that the token has established a new trading range.
In the final 60 minutes from July 15th to 16:11, Tonn experienced a significant price surge of 2.4%.
The dramatic breakout occurred at 15:48 when the volume surged to 1.68 million tokens.
The token peaked at $2.93 at 15:50, then established a new support level of around $2.90 to $2.91.

Disclaimer: Part of this article is generated with the support of AI tools and reviewed by the editorial team to ensure accuracy and compliance Our standards. For more information, please refer Coindesk’s complete AI policy.