On 6 July, Max Crown, CEO of Ton Foundation, Announced A “groundbreaking initiative” tanquin offer on x
“Exclusive chance” holders to secure 10 -year -old UAE Golden Visa.
Applicants in the program require the share of tonquine worth $ 100,000 for three years and a one -time processing fee of $ 35,000. After a three-year lock-up period, stacked funds can be clearly unlocked, and during this time, applicants allegedly acquire an estimated 3-4% annual percentage yield. (APY) On their stacked tokens.
Ton foundation website Highlighting Many major alleged advantages: a simple procedure without the need to submit the documents within seven weeks, to purchase real estate or meet the income limit, and include family members – spouses – spouses, children and parents – at additional cost beyond standard government fees. Steaking tons are conducted through decentralized smart contracts on the blockchain, which argues that ensures transparency and safety.
The program claims to offer a capital-skilled option for the traditional UAE Golden Visa routes, which the ton foundation says that usually immovable property or fixed deposits require a minimum investment of about $ 540,000 in real estate or fixed deposits, often tied to illegal assets and prolonged processing time. Ton Golden Visa initiative has been postponed to the UAE Residency in the form of a fast, more economical and digitally native route, aligning with the country’s ambition to become a global crypto and web 3 hub.
The announcement had an immediate impact on the performance of the Tanquin market. Shortly after the news broke, the price of Tonquine increased by 12%. At the time of writing, the token trades around $ 2.8944, which shows an increase of 5.36% in the last 24 hours. Additionally, the current 24-hour average trading volume is about 251.54% higher than the 30-day average, according to the technical analysis model of signaling market interest and activity.
Despite the enthusiasm, the declaration has created a dispute within the Crypto community. Bobby Ong, co-founder and COO of Coingo, Appreciated The partnership as a “amazing story” that can attract whale and provide strong purchase support for tonquine, although he hoped that the initiative is not a temporary plan.
Conversely, “which hedgehog” (“@Joehedgedgedhog” x)An investment partner in Sigil Fund, told It is not an official UAE government partnership, but is a third-party legal firm using tones as proxy to assist customers applying for golden visas under the Entrepreneur category. He said that the firm can use any cryptocurrency and that the staking requirement serves more as a token utility sink than a government mandate.
Ahead Suspicion Came from “ivangbi” (“@ivangbi_” x)The head of strategy and business development in the Gearbox protocol, who described the declaration as misleading. According to this perspective, the legal firm receives a non-worthy qualified $ 35,000 fee and tries to submit the application to the UAE government, which eventually decides on approval. He argued that the stacked ton balance is only one of the several requirements and can no longer be relevant under the updated rules. He said that the absence of blanket approval for tonnes stakes means that acceptance is uncertain, and the program can mainly serve as a marketing tool with token utility.
Changpeng (CZ)Co-founder and former CEO of Benance, Express Ton foundation’s UAE Golden Visa declaration cautious interest but highlighted many uncertainties. He referred to conflicting information about the validity of the program, including the claim that the $ 35,000 fee mainly goes to a legal agent instead of the government, and that the language of the website may suggest guaranteed visas when stake in $ 100,000 in tunquins.
The CZ also mentioned that the theue regulator classifies stacking as a regulated activity for which there may be a lack of license in tons. Importantly, he reported that the official UAE government channels currently do not recognize stacking tonquine as a visa qualification, instead the standard golden visa categories lie.
One in FollowerCZ reiterated his cautious optimism, emphasizing the need to “trust but verify”. He accepted the potential benefits of such a program, but stressed that official governmental participation and announcements are required for legitimacy – no one has been confirmed yet. His stance supports the innovation and the current status of the program for Ton’s founder Pavel Durov with prudent doubt.
The UAE entrepreneur visa category, which appears to target the program, is designed for individuals owner of economic or innovative nature economic projects. Applicants must provide approval letters from a recognized UAE auditor that confirms the price of the project (At least 500,000 AED)Local authorities confirm the innovative character of the project, and a recognized UAE business incubator to establish the proposed activity in the country.
Technical analysis highlights
- The price rose from $ 2.75 to the summit of $ 3.06, which represents a overall range of $ 0.34 (12.4%),
- The rally suddenly started during 7:00 hours on 6 July, when the volume rose by about 13 million.
- In 8:00 hours, the exceptional 57.5 million volumes brought the ton to its high level to grow.
- Support with high volume purchases is around $ 2.86- $ 2.89.
- Resistance appears at $ 3.03, suggesting that tokens have established a new trading range.
- From 6 July 15:12 to 16:11 in the last 60 minutes, the ton experienced an increase in significant price of 2.4%.
- The dramatic breakout took place at 15:48 when the volume reached 1.68 million tokens.
- The token reached the peak of $ 2.93 at 15:50 before installing a new support level around $ 2.90- $ 2.91.
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