TON Surges 12% as UAE Launches Golden Visa Program

The Open Network’s main asset, Toncoin (TON), experienced a significant surge in value following the announcement of a new “Golden Visa” program in the United Arab Emirates (UAE). This initiative allows individuals who invest $100,000 in TON over a three-year period to secure permanent residency in the UAE. The news triggered a substantial increase in TON’s value, rising from below $2.75 to $3.08, representing a 12% gain. This surge marked the largest hourly price increase observed in recent weeks, breaking a prolonged downtrend and pushing the altcoin closer to its resistance level.

The Golden Visa program is designed to attract high-net-worth individuals and investors by offering them the opportunity to obtain permanent residency in the UAE in exchange for a significant investment in TON. This strategic move is expected to drive further adoption and integration of TON within the financial markets, as investors seek to capitalize on the benefits offered by the program. The initiative not only provides a pathway to residency but also positions TON as a viable investment option for those looking to diversify their portfolios and gain exposure to the cryptocurrency market.

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.

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. The collaboration between the UAE government and The Open Network has played a pivotal role in driving TON’s valuation higher. By leveraging the Golden Visa program, the UAE aims to foster economic growth and innovation within the region, while also enhancing its status as a global financial hub. This partnership has not only boosted TON’s market position but has also generated renewed interest and confidence among investors, who are increasingly recognizing the potential of TON as a long-term investment.

The meteoric rise of TON in the financial markets can be attributed to the strategic implementation of the Golden Visa program, which has created a unique opportunity for investors to gain permanent residency in the UAE while also benefiting from the potential growth of TON. This initiative has not only driven TON’s valuation higher but has also positioned it as a key player in the cryptocurrency market, with the potential to attract further investment and adoption in the coming years.