Toncoin Price Drops 3% as Legacy Bridge Closes

Toncoin's price dropped by 3% to $1.34 on September 1, following the permanent shutdown of its legacy bridge.

The TON chain's network and native asset were not affected by the shutdown, but users who held wrapped assets on Ethereum or BNB Smart Chain were advised to convert them back to Toncoin before the deadline.

The bridge was used for transferring crypto assets between the TON Mainnet, Ethereum, and BNB Smart Chain blockchain networks.

Toncoin's price had previously reached $1.50 in late August but fell back down to around $1.30, which could potentially be a support level for the asset.