**Toncoin Plummets After Telegram CEO's Arrest**

Toncoin (TON) has seen a dramatic 25% drop in the last 24 hours, hitting $5.24 on August 25. This sharp decline follows the unexpected arrest of Telegram CEO Pavel Durov by French authorities. Durov faces charges related to data privacy and cryptocurrency regulation violations.

Telegram has been a key player in promoting Toncoin, making Durov's arrest a significant blow to the coin's market confidence. However, some analysts believe that TON could rebound, similar to how Binance Coin (BNB) recovered after legal issues involving its CEO.

Technically, TON is trading within an ascending channel and has bounced from its lower trendline, suggesting potential support. The coin's RSI is nearing oversold levels, which often precedes a rebound.

Futures market data shows rising open interest and funding rates for TON, indicating growing trader confidence. If this trend continues, TON could see a significant price recovery, potentially reaching $8.50.

As always, investors should conduct their own research before making any trading decisions.