TON price falls 16% after Telegram CEO Pavel Durov arrested in France
The price of Bitcoin alternative Toncoin (TON) fell Sunday by 16% (as of the time of writing), following the arrest of TON founder, Telegram CEO Pavel Durov. Pavel Durov was arrested by French authorities after he landed during the weekend on a private jet at Le Bourget Airport, just north of Paris. Mr. Durov, a native of Russia who resides in the UAE and also holds French citizenship, was arrested under a warrant relating to supposed offenses connected to his Telegram app. Specifically, Telegra
SOL, FET, RENDER: Top cryptocurrencies to watch this week
Solana reclaims $160 Last week, Solana SOL 0.63% Solana surged 12%, reclaiming the $160 level and peaking at a two-week high of $162 on Aug. 24 despite setbacks in its ETF product. After closing the week strong, SOL has now pulled back to $157.17. However, Solana remains above the 200-day EMA at $140.12, signaling ongoing bullish momentum. This week, SOL needs to hold above the 200-day EMA to sustain the ongoing upward trend. Meanwhile, the Chande Kroll Stop indicators place the Stop Long at $
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Terra is one of the fastest-growing ecosystems, and LUNA is a central notion in its network. LUNA could keep going up to a maximum price, as there is a massive market for Terra LUNA coins. With the need to sustain Terra token values balanced. After revamping the entire world network of payments. LUNA pricing could set out on a journey to leave a significant mark in this crypto industry. In such an optimistic case, the price of Terra LUNA could surge to its potential high of $0.72. On the flip s
Obstacles on the Path to $10 Several factors make the $10 dream seem distant:
Massive Supply: LUNC suffers from a bloated supply of over 6.5 trillion tokens. While a burn mechanism exists, its effectiveness is debatable, raising concerns about significant price appreciation with such a vast supply.
Tarnished Reputation: The Terra ecosystem crash significantly damaged trust and investor confidence. Regaining that trust and attracting new investors will be an uphill battle.
Competition: LUNC faces intense competition from established and innovative projects in the cryptocurrency space, making it difficult to stand out and attract significant adoption.
Limited Use Cases: Despite ongoing project development, LUNC’s real-world use cases remain limited, hindering its potential for widespread adoption and price growth.