Toncoin Price Drops 3% Amid Legacy Bridge Shutdown

Toncoin price fell to $1.34 after the shutdown of one of its legacy bridges, the Ton Bridge.

The bridge was used by users to transfer crypto assets between the TON Mainnet, Ethereum, and BNB Smart Chain blockchain networks.

Although the shutdown only affects wrapped assets being introduced through the bridge, which is being terminated, it may have contributed to the 3.12% price drop.

The network announced that it would cease operation on September 1, allowing users to convert back to TON before the deadline.