The stablecoin giant has launched XAUt0, an omnichain version of its gold-backed token XAUt, on TON (The Open Network), marking a new chapter in digital precious metals.

A New Standard in Gold Investing

Built on LayerZero’s “Omnichain Fungible Token” standard, XAUt0 enables seamless transfers across blockchains without using wrapping mechanisms or middlechains. This technical leap allows broader and more flexible access to digital gold.

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XAUt, available only on Ethereum, is currently the largest gold-backed stablecoin by market cap at $832 million, closely followed by Pax Gold at $811 million. Tether backs the token with over 7.7 tons of physical gold stored in a Swiss vault, according to its Q1 2025 attestation.

The move follows Tether’s launch of USDt on the TON network earlier in 2024 and mirrors the structure of USDT0, its omnichain dollar-pegged token that spans multiple chains through Optimism’s Superchain ecosystem.

Gold Prices Surge Amid Global Uncertainty

Gold prices have surged in 2025, driven largely by economic instability and escalating trade tensions. As of May 30, gold traded at $3,304 per ounce — a 29.5% increase from the previous year.

Gold ETFs have also performed strongly, with the top eight funds gaining over 25% year-to-date. Tether’s XAUt0 is set to compete with such instruments, offering digital asset investors a new way to access gold’s stability in turbulent times.

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Current Price Action and Status

After reaching the 3.10 – 3.20 USDT target zone, TON faced selling pressure and saw a rejection at that resistance level. Currently, the price is expected to find support at the 2.80 – 2.90 USDT area, which corresponds to the previous trendline breakout level. If buyers step in at this zone, TON could gain bullish momentum once again.

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Potential Scenarios

• If TON holds above the broken descending trendline, buyers may push the price toward the 3.30 USDT FVG (Fair Value Gap) zone. A breakout above this level could open the door for further upside toward 3.50 USDT and beyond.

• If TON loses support at 2.80 USDT and closes below it on the daily timeframe, the price could fall back toward the 2.60 USDT support zone. Further weakness could bring 2.40 – 2.50 USDT back into focus.

The recent trendline breakout and successful target achievement offer positive signals for TON. However, the resistance area has triggered profit-taking, and short-term sideways or slightly bearish price movements may follow. Holding above the 2.80 USDT support zone is crucial for maintaining a bullish structure in the medium to long term.

Traders are advised to monitor support and resistance levels closely and adjust their strategies accordingly. If TON re-enters the descending trendline zone, downside risks may increase.

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First Target: $3.91! Then Eyes on the $4.50 Levels

If the trendline breakout occurs, the price is likely to move first towards the $3.91 level. This area has historically acted as a significant resistance zone.

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Should TON manage to surpass $3.91, the rally may gain momentum and extend towards the $4.50 levels. This level stands out as a key resistance area that short-term investors will be closely monitoring.

Pullback Scenario: The $3 Support Zone Is Critical!

However, if the price gets rejected from the descending trendline and fails to sustain its upward move, a correction towards the FVG (Fair Value Gap) zone formed during the recent uptrend is expected. The $3 support located in this area is extremely critical for TON.

If the $3 support fails, there is a possibility of a deeper correction down to the $2.50 levels. Therefore, investors are advised to closely watch this key support zone.

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Toncoin Open Interest Hits 42-Day High!

As of March 15, Toncoin open interest (OI) reached $169 million, representing a 67% increase compared to the previous day. According to CoinGlass data, this is the highest open interest recorded since February 1, when it stood at $171.49 million.

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TON is the native cryptocurrency of The Open Network, serving as the exclusive blockchain infrastructure for Telegram’s Mini App ecosystem.

TON Price on the Rise!

Alongside the increase in open interest, Toncoin’s price also climbed sharply. Over the past 24 hours, TON has gained 17%, trading at $3.45 at the time of writing, according to CoinMarketCap data.

Crypto analyst Crypto Billion noted in a March 15 X post that Toncoin is “showing signs of entering a potential long-term accumulation phase” as it stabilizes near key support levels.

However, if this rally proves to be short-lived, about $18.8 million in long positions could be liquidated if TON’s price falls back toward the $3 level it was trading at on March 14.

Durov’s Move to Dubai Triggers Market Reaction!

Reports indicate that a French court has allowed Durov to travel to Dubai, a jurisdiction known for having no extradition agreements with many countries. The crypto community views this development as significant, particularly because Durov’s August 2024 arrest in France sparked concerns over increased crackdowns on privacy-focused services. He was accused of running a platform that facilitated illicit transactions.

Similarly, following Durov’s arrest on August 24, 2024, TON’s open interest surged 32% within 24 hours, while the token’s price dropped by nearly 12%.

On January 21, Telegram announced it would cease supporting any blockchain other than The Open Network (TON) for its messenger services.

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This move aims to make cryptocurrencies more accessible, especially for investors in the Middle East and North Africa (MENA) region. Tether’s CEO, Paolo Ardoino, stated that the launch of the dirham-pegged stablecoin will allow users in the region to more easily access digital assets using their local currency. Additionally, the development of this stablecoin on the TON blockchain will offer significant advantages in terms of transaction speeds and security.

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Steve Yun, the President of the TON Foundation, expressed that this partnership has the potential to attract more users to the TON network and could enhance TON’s strength within the global crypto ecosystem.

UAE Approves Licensing System for Stablecoins

The United Arab Emirates (UAE) has approved the establishment of an official licensing system for stablecoins. This new regulation aims to strengthen the regulatory framework in the cryptocurrency sector and increase the use of digital assets in the local economy.

The UAE Central Bank announced the launch of a new licensing process to clarify the legal status of stablecoins and oversee activities in this area. This system will help ensure that companies issuing stablecoins comply with certain standards, thereby protecting investors.

Regulatory authorities plan to implement various measures to mitigate the potential risks of stablecoins and enhance transparency in the sector. Additionally, this licensing system will support the UAE’s goal of becoming a global hub for cryptocurrency and blockchain technologies.

In recent years, the UAE has taken significant steps in the blockchain and cryptocurrency space, working to strengthen its leadership position in the region. This new licensing system will provide greater assurance for stablecoin projects in the country, creating an attractive environment for both local and international investors.

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“The whole point is that you’ll actually benefit from this,” Tapswap posted on X. “There have been certain ‘inconveniences’ accompanying our triumph. This degree of focus calls for a much more thorough study of tokenomics and the appropriate launch plan. Extra time follows from this as well,” as stated, adding:

“Know that this is all to ensure that our launch in Q3 is fair and, more importantly, profitable for all of you who stand by us no matter whatever.”

Tapswap did not offer a certain date for the release of its token, TAPS, on The Open Network, or TON. It also omitted particular information about the eligibility criteria for the airdrop.

Started in February, the game pays gamers for touching the displays of their computers or phones. The level one has attained determines the rules and limits on the number of tokens one can tap each time. According to the developers, the game is played by around 50 million enthusiasts. Its success, according to it, has drawn tier 1 exchange partners as well as frauds.

Tapswap underlined at a recent Ask-Me-Anything session on X that “a significant portion of all tokens will be allocated to the community.” Once the tokenomics, a mix of the words “token” and “economics,” define the aspects that make a cryptocurrency valuable, people will be informed about the endeavor.

The project promised to be exact in its airdrop token distribution. Said to have established a monitoring system to track user behavior, “identifying accounts that deserve to be banned,” Tapswap also wants to provide “unscrupulous users the option to voluntarily surrender for a percentage of the drop, so ensuring a win/loss for all.”

“Although these cannot be revealed ahead of time to prevent abuse, we are developing clear rules for token distribution to ensure justice,” it said.

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