BTCC
/
BTCC Square
/
Global Cryptocurrency
/
Toncoin (TON) Sees Wild Swings as UAE Residency Rumor Sparks 10% Surge Before Dubai Denial
Toncoin (TON) Sees Wild Swings as UAE Residency Rumor Sparks 10% Surge Before Dubai Denial
15
2
[TRADE_PLUGIN]TONUSDT,TONUSDT[/TRADE_PLUGIN]
Toncoin TON News -
Toncoin (TON) whipsawed traders with a 10% intraday rally followed by a sharp 6% drop on July 7 after false claims about UAE residency benefits. The cryptocurrency briefly hit $3.05 before retreating when Dubai's Financial Services Authority (FSA) clarified no such program exists.
The episode triggered a 900% volume spike to $795 million, highlighting concentration risks with whale wallets controlling 68% of supply. Technicals show strong support at $2.78 (78.6% Fib) while the $3.00-$3.20 zone continues to cap upside attempts since May's ATH.
By:
Previous
China Warns of Stablecoin Fraud Amid Rising Local Interest
Next
Trump’s 10% Tariff on BRICS Nations Sparks Global Market Volatility
