Toncoin (TON) Price Prediction: UAE 'Golden Visa' Program Shocks the Market, Breaking Moving Averages Indicates Short-Term Bullish

Today (7), in the Asian early trading session, Toncoin (TON) continues its weekend pump, currently reported at $2.83 maintaining strong momentum. TON announced a major initiative to launch a blockchain-based residency program in the United Arab Emirates (UAE), following which its coin price surged significantly. This initiative not only solidifies TON's position in the Crypto Assets market but also opens new opportunities for investors seeking long-term visas in the UAE.

In addition to fundamental factors, the price chart of TON also shows clear signs of a breakout. TON has broken through the 7-day simple moving average (SMA) of $2.83 and the 7-day exponential moving average (EMA) of $2.81. This indicates a short-term bullish trend and the possibility of continued upward movement.

Additionally, an important indicator in technical analysis—the Relative Strength Index (RSI) has fallen to an oversold level of 38.79, but is currently on the rise. This indicates that the price of TON still has significant room for continued strong upward movement in the near future.

(Source: Trading View)

TON Bull Market Catalyst: UAE Blockchain Residency Program

One of the key factors driving this increase is the UAE's announcement of its first residency program based on Blockchain. According to the plan, investors can stake $100,000 on TON through decentralized smart contracts to obtain a three-year UAE residency. In return, they will receive a UAE golden visa valid for 10 years.

The plan not only benefits the participants but also locks a large amount of TON coins, making them unable to circulate. If the number of participants is around 1,000, approximately 100 million USD worth of TON coins will be "locked" in the system. In addition, participants can also receive an annualized return of 3-4%, which is highly attractive to long-term investors.

It is worth noting that the program employs a fast visa process, typically completed within seven weeks for approval. This provides convenience for investors, especially those seeking to combine financial investment with residency benefits. In addition, unlike traditional programs requiring a $500,000 real estate investment, this program allows applicants with lower investment amounts while also granting residency to the applicant's immediate family members.

Although TON is "locked" in the smart contract, it is still controlled by the users and can be fully withdrawn after three years. Its annual yield is 3-4%, depending on market conditions, making it a highly attractive long-term investment opportunity.

The cooperation between TON and the UAE is expected not only to attract Crypto Assets investors but also to draw in entrepreneurs seeking more convenient residency options. The UAE has long been known for its business-friendly policies and innovative ecosystem, which provide advantages for companies and individuals in the Blockchain and Crypto Assets sectors. This is a strategic initiative taken by Toncoin to expand its influence and attract the attention of the global Crypto Assets community.

In addition to the UAE residency program, Toncoin has several other initiatives that have attracted community attention. For example, in late May of this year, xAI, the parent company of the Grok chatbot, announced a partnership with Telegram to integrate Grok into its platform, resulting in a surge in Toncoin's stock price. According to the agreement, Telegram will receive $300 million in cash and equity, as well as 50% of the subscription revenue from the xAI platform.

This collaboration highlights the strong growth of Toncoin in the crypto assets ecosystem and may bring a new wave of growth for TON in the near future.

With recent strong growth and strategic initiatives such as the UAE residency program, TON has fully demonstrated its potential to combine Blockchain technology with the actual interests of investors. Despite the volatility of the Crypto Assets market, technical indicators and fundamental factors are creating a positive impact on TON's short-term outlook.

Zhao Changpeng questions TON UAE golden visa

The former richest Chinese, Zhao Changpeng (CZ), expressed doubts about the legality of the new route to obtain residency in the UAE proposed by Open Network, emphasizing that the UAE government has not issued any official statement.

"Is this true?" Zhao Changpeng asked in response to the statement on X (formerly Twitter). "If it's true, that would be great. However, so far, the information I have received is contradictory."

He also stated: "Currently, there is no official government website that has published the latest information regarding 'gold visa investment gold.'"

He pointed out that there is no information regarding which government agency (if any) approved the plan.

Zhao Changpeng is very familiar with the residency requirements of the UAE, as he obtained a golden visa when he first set foot on UAE soil.

The UAE government denies the news about the TON golden visa

According to a press release issued by the UAE news agency (WAM) on Monday, the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP), the Securities and Commodities Authority (SCA), and the Virtual Assets Regulatory Authority (VARA) clarified that the Golden Visa is issued under a specific framework that does not include crypto asset investors.

ICP clearly states that the eligibility for the golden visa is limited to "real estate investors, entrepreneurs, outstanding talents, scientists and professionals, excellent students and alumni, humanitarian pioneers, and frontline workers."

VARA clearly stated that TON has not received any permission or regulation from any regulatory agency in response to TON's announcement of the UAE Golden Visa program, which requires investors to stake 100,000 USD worth of TON tokens within three years and pay a fee of 35,000 USD.

SCA emphasizes its commitment to international standards for financial industry regulation and states that investments in Crypto Assets are subject to specific regulations, unrelated to the eligibility for obtaining a golden visa.

These three organizations urge the public to act cautiously and rely on official government websites for accurate visa requirement information. They warn the public not to believe unverified advertisements or offers circulating online.

TON has not claimed to cooperate with the UAE government. The program is essentially a third-party service that uses TON's token Toncoin to assist customers in obtaining qualifications.