Toncoin Price Plummets to $1.30 After TON Bridge Shutdown

Toncoin's price took a hit on September 1 after TON shut down its older cross-chain bridge. The bridge, which allowed users to transfer wrapped versions of Toncoin between TON Mainnet, Ethereum, and BNB Smart Chain, is no longer operational. However, the shutdown does not affect the TON network or native coins.

Users were advised to convert their wrapped Toncoin back to native TON before the deadline, but this move has coincided with a broader market downturn for Toncoin. The price of Toncoin fell to around $1.30 following the bridge's closure.