➡️Toncoin’s Price Dips and Open Interest Rises in Wake of Pavel Durov’s Arrest

TON’s price fell over 22%, amidst uncertainty after Pavel Durov’s arrest, but the network remains stable.

CryptoQuant’s latest analysis of TON following the recent turn of events highlighted three changes. First, the price of TON plummeted from $6.8 to $5.3 on August 25. The downtrend briefly extended to $5.1 in the early hours of August 27. The price action contributed to its weekly decline by over 22%. TON, which is the tenth-largest crypto by market cap, experienced a slight recovery and is currently trading near $5.43.

Second, despite the turmoil, the network, including both the master and workchains, continued to produce blocks as usual.

Finally, Open Interest in TON surged from approximately $200 million to $360 million, reflecting an 80% increase, indicating heightened speculative activity