Toncoin fell toward $1.30 as the TON network completed the permanent shutdown of its legacy Token Bridge on September 1. The decline marked a 3.12% drop from the day's opening price of $1.39.
Bridge Shutdown Details
The retired bridge had enabled users to transfer crypto assets between TON Mainnet, Ethereum, and BNB Smart Chain networks. The shutdown does not affect TON's native blockchain or coins held in TON wallets, but rather terminates wrapped asset versions of cryptocurrencies that were introduced through the bridge.
TON halted new outflows through the bridge in May 2025 but kept the return path open to allow existing users to withdraw funds before the September 1 deadline. TON Status advised holders of wrapped Toncoin on Ethereum or BNB Smart Chain to convert back to TON before the closure.
The bridge is being retired because alternative transfer solutions are now available, and the introduction of native USDT reduced the need for wrapped stablecoin bridges.
Price Action and Market Analysis
Toncoin traded near $1.34 as of the announcement, having started the session at $1.39 and reached a high of $1.41 before falling to $1.33. The decline reversed some of the asset's recent recovery toward $1.50 in late August.
Buyers have shown interest in the $1.30 level in recent weeks, and holding this area could allow the price to stabilize and attempt another move toward $1.40. A break below $1.30 could push the asset toward the $1.20 range, while a return of buyer interest could face resistance around the $1.50 peak.
Chart analysis indicates weakening demand, though the heavy selling pressure seen in earlier declines was absent. There is no evidence that the bridge closure directly caused the price movement, given that the shutdown was announced months in advance. Wider market conditions may have contributed to the session's decline.
