Toncoin (TON) Falls 15% After Telegram CEO Arrest

After Telegram CEO Pavel Durov was arrested, Toncoin (TON) prices plummeted. Toncoin has been one of the best-performing digital currencies in 2024, but the past two months have been volatile.

Toncoin Reacts to Telegram CEO Detention

After landing from his private plane, Telegram founder and CEO Pavel Durov was detained at Le Bourget airport in France on Saturday, according to TF1 TV.

French officials say Telegram's “lack of control” has encouraged illegal activity on the messaging program, which 39-year-old Russian-born Emirati Durov was jailed for. The IT world, including crypto users, has criticized this arrest as the French government censoring a free social networking platform.


After Durov's arrest, Toncoin, the native token of The Open Network (TON) and a cryptocurrency linked with Telegram, fell 15.67%.

Toncoin, which Telegram planned to introduce until US authorities intervened, pays developers, buys adverts, and buys premium subscriptions on the chat platform. The Telegram CEO's incarceration caused adverse sentiment, lowering TON's market price to $5.52, lowest seen in early August. The cryptocurrency is slowly rising toward $5.70, suggesting stability.

TON was one of the most lucrative assets in 2024, so long-term investors may not worry about this price drop.

According to CoinMarketCap, TON gained 240% in the first half of 2024, reaching an all-time high of $8.24 and ranking in the top 10 cryptocurrencies by market cap. In Q3 2024, the altcoin did not expand as much, but on-chain measures like active network users indicate a spike in interest that might effect price growth.

TON Network Requests Calm After Durov Arrest
The Open Network's administrators informed users that the blockchain remained operating and supported Telegram CEO Pavel Durov after his untimely arrest. The TON administration has also appealed for a calm and cohesive approach to contacting authorities and resolving the issue, given the X social media protest.

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