Toncoin Price Drops Following Arrest of Pavel Durov
Telegram founder Pavel Durov's recent arrest has cast a shadow over Toncoin's future.
Durov, Telegram’s CEO, was detained by French authorities for allegedly failing to control illicit activities on his platform.
This news has caused a sharp drop in Toncoin’s value, with its price plummeting by 17% from $6.80, and currently sitting at $5.58.
The market reaction has been volatile, with Open Interest reaching a high of $294.14 million, indicating heightened trading activity. The Long/Short Ratio reflects mixed opinions on Toncoin’s potential rebound.
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The Toncoin community is working to stabilize the situation, emphasizing that the network remains operational and committed to its principles.
However, the cryptocurrency’s performance is closely tied to the resolution of Durov’s legal issues. If the situation persists, Toncoin’s value may continue to decrease, causing further concern among investors.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
