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The Toncoin price pumped 3% in the last 24 hours to trade at $2.86 as of 12:33 a.m. EST on trading volume that skyrocketed over 5,000% to $814 million.
This uptick in the TON price comes even after regulators in the United Arab Emirates refuted claims that staking Toncoin (TON) could give holders a golden visa, possibly creating a pathway to UAE residency.
The Open Network had claimed on Sunday that applicants who staked $100,000 worth of TON for three years would gain eligibility for the UAE’s golden visa program.
BREAKING:
🇦🇪 TON HAS JUST PARTNERED WITH UAE TO OFFER 10 YEAR GOLDEN VISA TO TON STAKERS.
– STAKE $100,000 $TON FOR 3 YEARS
– 10 YEARS DUBAI GOLDEN VISA
– SPOUSE / FAMILY INCLUDED
– $35,000 GOVT FEESMASSIVE FOR CRYPTO ADOPTION 🚀 pic.twitter.com/UC7ywfV5HF
— Ash Crypto (@Ashcryptoreal) July 6, 2025
However, the Federal Authority for Identity, Citizenship, Customs and Port Security, the Securities and Commodities Authority, and the Virtual Assets Regulatory Authority have said golden visas are not issued to digital asset holders.
Will the news be a negative sign for the price of TON?
Toncoin Price Coils For A Breakout: Will The Falling Wedge Spark A Reversal?
The TON price on the daily timeframe shows that Toncoin has been in a sustained downtrend but is currently consolidating within a falling wedge pattern.
Toncoin price action has been tightly compressed near the wedge’s support, indicating that a breakout could be imminent.
Looking at major indicators, the 50-day Simple Moving Average (SMA) remains below the 200-day SMA, confirming the broader bearish structure within the wedge, as GeckoTerminal data shows.
However, the price of Toncoin has been hovering near the 50-day SMA, which could act as a pivot point if a breakout occurs.
Meanwhile, the Relative Strength Index (RSI) stands at 47.19, showing neutral momentum with no signs of overbought or oversold conditions. This leaves room for a potential move in either direction.
If the price manages to break above the falling wedge’s resistance and reclaim the 50-day SMA ($3.0) decisively, a bullish move toward the 200-day SMA near $3.70 is likely.
TON/USDT chart analysis (Source: GeckoTerminal)
Conversely, failure to hold the wedge’s support may trigger a drop toward the March support zone at $2.50 or lower.
Meanwhile, investors are piling into a new Bitcoin-themed meme coin called Bitcoin Hyper (HYPER), which aims to scale the Bitcoin blockchain.
According to 99Bitcoins, a popular crypto channel on YouTube with over 723K subscribers, HYPER has the potential to soar 10X after launch.
Bitcoin Hyper Token Presale Crosses The $2 Million Mark – Next 10X Crypto?
Bitcoin Hyper enters the market with a bold claim: it’s here to make Bitcoin better.
Bitcoin’s robust security architecture has established it as the gold standard for cryptocurrency. However, transaction speed limitations have restricted its utility in modern decentralized applications.
The project addresses those scalability challenges through an innovative layer-2 framework that preserves Bitcoin’s fundamental security. The project does this while enabling lightning-fast transaction processing capabilities comparable to those of modern high-performance blockchains, such as Solana.
Bitcoin Hyper is built on the Solana Virtual Machine (SVM), a functionality that also introduces fast and scalable smart contracts to the Bitcoin ecosystem.
Bitcoin Hyper is here to supercharge Bitcoin.
Built on the Solana Virtual Machine, it brings lightning-fast, low-cost transactions to Bitcoin’s ecosystem perfect for payments, meme coins, and powerful dApps.
With zk-proofs and Layer 1 anchoring, it’s fast and secure.
Presale is… pic.twitter.com/qMi0sZb7Ld— halo (@haloETH) May 11, 2025
Additionally, the project functions on a decentralized Canonical Bridge, which ensures seamless and secure transfers between Bitcoin’s base layer and BTC Hyper.
Bitcoin Hyper is gaining traction, having raised over $2 million in early-stage funding so far.
The team has also allocated 5% of the total 21 billion HYPER token supply for rewards, offering investors an impressive 395% annual percentage yield (APY) for purchasing and staking the tokens.
Investors interested in participating in the presale can visit the official Bitcoin Hyper Token website to buy HYPER tokens for $0.012175 each using crypto or a bank card.
Buy before the next price increase in about 33 hours.
Visit the Bitcoin Hyper website.
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