In a dramatic development that has sent ripples through the cryptocurrency market, the price of Toncoin (TON) surged by over 6% following the release of Pavel Durov, the founder of Telegram, from France. Durov’s arrest in August 2024 had initially caused a significant decline in Toncoin’s valuation, demonstrating the profound impact personal and regulatory challenges can have on digital assets.
According to CoinMarketCap, TON has seen a remarkable rebound, rallying roughly 18% in the last 24 hours and over 13% within the past week. This is a stark contrast to the price plummet that followed Durov’s initial arrest, where Toncoin fell dramatically from approximately $6.88 to $4.44 by the end of September 2024.
Despite experiencing a peak of $7.20 on December 4, 2024, in conjunction with a historic bullish trend across crypto markets after the U.S. elections, the subsequent correction was brutal, pushing the price down by around 67%, culminating in a low of $2.36 in March 2025.
Toncoin’s price action since August 2024. Source: TradingView
Toncoin serves as the cryptocurrency for The Open Network, a platform that, while distinct from Telegram, has garnered considerable traction among users of the messaging service. Durov’s release was met with enthusiasm among Telegram and TON advocates, seen as a victory for free expression amidst ongoing debates surrounding online security.
Pavel Durov’s Exit from France
On March 13, the Telegram founder received authorization to leave France, with plans reportedly geared towards a trip to Dubai. According to sources quoted by AFP, Durov’s departure was confirmed, although the situation regarding the ongoing legal proceedings remains somewhat ambiguous.
Complications arose as French authorities accused Telegram of enabling illegal activities by not sufficiently censoring its platform. These allegations coupled with the pressed charges against Durov had initially necessitated his extended stay in France as part of a bail arrangement.
Durov himself labeled his arrest as unnecessary, stressing that both he and the organization were willing to collaborate with French law enforcement, contingent upon the submission of a formal legal request for assistance.
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