Toncoin Experiences Price Drop Following UAE’s Rejection of Golden Visa Association

The price of Toncoin has decreased significantly, dropping by 6% after authorities in the United Arab Emirates (UAE) formally refuted claims connecting the cryptocurrency to a Golden Visa program. This announcement triggered widespread investor uncertainty, prompting a wave of sell-offs. The denial from relevant governmental bodies came in response to circulating reports suggesting that substantial Toncoin holders were eligible for the UAE Golden Visa, a long-term residency permit typically granted to high-net-worth individuals or those with exceptional talents. UAE officials clarified that these reports were unfounded and that the Golden Visa criteria are clearly defined and do not encompass cryptocurrency holdings. This immediate clarification led to a sharp decline in Toncoin’s price as investors rushed to sell their holdings in anticipation of further losses. The incident also raised questions about the reliability of cryptocurrency-related information circulating online and the importance of verifying news from official sources before making investment decisions. Market analysts are closely monitoring whether Toncoin’s price will stabilize soon or if the decline will continue in the short term. The future of the cryptocurrency remains uncertain in light of this new development.