On July 6, Ton Foundation CEO Max Crown, Announce On X, a groundbreaking program that offers tons of coins
Holders have the opportunity to obtain a 10-year UAE Golden Visa.
The program requires applicants to hold profits worth $100,000 in tonnes of coins within three years and pay a one-time processing fee of $35,000. After a three-year lockdown period, it is obvious that Staked funds can be unlocked, during which time, the applicant reportedly estimated annual yields of 3–4% per year are estimated at 3–4% per year. (APY) On their fixed token.
Ton Foundation website Highlights Several key benefits allegedly: rapid approval within seven weeks of filing, a simple process that does not require real estate purchases or meets income thresholds and includes additional expenses beyond family members (spouses, children and parents) exceeding standard government fees. This credit is done through smart contracts that are decentralized on the TON blockchain, which is believed to ensure transparency and security.
The plan claims to provide a capital-efficient alternative to the traditional UAE Golden Visa route that typically requires a minimum investment of about $540,000 in real estate or fixed deposits, often associated with under-liquid assets and longer processing times. The Golden Visa Initiative is touted as a faster, more affordable, digitally local pathway to residency in the UAE, aligning with the country’s ambition to become a global cryptocurrency and Web3 hub.
The announcement has a direct impact on the market performance of ton coins. Shortly after the news broke, the price of the entrusted coin soared by 12%. At the time of writing, the tokens were trading at about $2.8944, reflecting a 5.36% increase in the past 24 hours. In addition, according to Coindesk Research’s technical analysis model, the current 24-hour average transaction volume is about 251.54% higher than the 30-day average, which increases market interest and activity signals.
Despite the enthusiasm, the announcement has caused controversy in the cryptocurrency community. Bobby Ong, Coingecko Co-founder and Chief Operating Officer, commend The partnership is a “amazing story” that can attract whales and provide strong purchasing support for Tonco, although he said he hopes the program is not a temporary one.
Instead, “Joe Hedgedhog” (“@joehedhog” on x)investment partner of Sigil Fund, Point out This is not an official UAE government partnership, but a third-party legal company that uses TON as an agent to assist clients applying for a golden visa under the Entrepreneur category. He noted that the company could have used any cryptocurrency and putting in demands could be used as a symbolic utility than a government mandate.
farther skepticism From “Ivangbi” (“@ivangbi_” on x)head of strategy and business development of the Transmission Agreement, he misled the announcement as misleading. According to this view, the legal company received a non-refundable $35,000 fee and tried to submit an application to the UAE government, with a final decision to approve it. He believes that the balance of the spoon is just one of several requirements and may no longer make sense under updated rules. He went on to say that the approval of the Hannathians does not approve tons means acceptance is uncertain, and the program may be used primarily as a marketing tool, plus token utility.
Changpeng Zhao (also known as “CZ”)co-founder and former CEO, Express Cautious support for Ton founder Pavel Durov, but stressed the need for “trust but validation”. He noted that such plans often require formal government partnerships and announcements, which have not been confirmed.
The program appears to target UAE entrepreneur visa categories that are designed for economic projects with a technological or innovative nature. The applicant must provide a letter of approval from an accredited UAE auditor to confirm the value of the project (At least 500,000 people)local authorities have verified the innovative characteristics of the project, as well as a recognized UAE business incubator, establishing proposed activities in the country.
Technical analysis highlight
- Prices soared from $2.75 to a peak of $3.06, with a total range of $0.34 (12.4%).
- The rally started suddenly at 7:00 hours on July 6, when the number soared to nearly 13 million.
- 57.5 million influxes at a height of 8:00 hours.
- Supports approximately $2.86 to $2.89 and makes a large purchase.
- The resistance appears at $3.03, which indicates that the token has established a new trading range.
- In the last 60 minutes from July 6 to 16:11, the price of tonnes increased by 2.4%.
- The dramatic breakthrough occurred at 15:48, when the number reached 1.68 million tokens.
- The token reached a peak of $2.93 at 15:50, and then established a new support level of $2.90 to $2.91.
Disclaimer: Part of this article was generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and compliance Our standards. For more information, see Coindesk’s complete AI policy.
