Altcoins News
By Evie Vavasseur
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Toncoin surged 12.1% in just two hours on July 8, fueled by fresh demand linked to new UAE Golden Visa rules.
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The Open Network (TON), a decentralized Layer 1 blockchain, saw a surge in trading volume during this rapid price increase.
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The Accumulation/Distribution (A/D) indicator also shows a declining trend over the past week, suggesting that consistent demand is still required for Toncoin to firmly reclaim…
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The recent surge in Toncoin’s price coincides with The Open Network’s declaration of a unique path to UAE residency.
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Bobby Ong, Co-founder of Coingecko, praised the partnership on social media, highlighting the affordability of this crypto-based visa program compared to traditional routes like…
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Support around $2.7 to $2.8 has been solid since April, with an additional psychological floor at $2.5 earlier in the year.
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Looking at on-chain data, the Coin Days Destroyed (CDD) metric provides insights into spending behavior, especially from long-term holders.
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Combining technical price action, subdued selling, and the positive news flow from the UAE partnership, Toncoin appears poised for potential gains ahead.
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In summary, Toncoin’s sudden 12% price jump reflects the market’s reaction to the UAE’s innovative residency offer tied to TON staking.
The Currency Analytics
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