Toncoin drops to $1.30 as TON shuts down its old cross-chain bridge on Sept 1

Toncoin's price fell to around $1.30 following the permanent shutdown of TON's older cross-chain bridge on September 1. This bridge allowed users to transfer wrapped versions of Toncoin between TON Mainnet, Ethereum, and BNB Smart Chain, but its closure does not affect the TON network or native coins. Users were advised to convert wrapped Toncoin back to native TON before the deadline. The shutdown reflects the availability of newer transfer solutions and the removal of the need for wrapped stablecoin bridges. Toncoin's price decline is likely influenced by broader market conditions rather than the bridge closure itself.