The post Telegram CEO Released from Police Custody, What’s Next for Toncoin? appeared first on Coinpedia Fintech News
Telegram CEO Pavel Durov was released from police custody and transferred to the court in Paris for an initial inquiry and possible charge. Following the report of Durov’s release, Toncoin (TON) skyrocketed by 12.5%, rising from $5.3 to $5.98 in less than one hour.
On August 24, 2024, Pavel was arrested at Paris’s Bourget Airport on charges of spreading child pornography, drug trafficking, money laundering, and other offenses. This incident led to a sharp sell-off of TON tokens, causing the price to drop by over 25%.
Looking at the price momentum, it seems that the Telegram CEO has a significant influence on TON and related tokens. Currently, TON is trading near the $5.65 level and has experienced a price surge of over 3.54%. Meanwhile, its trading volume has skyrocketed by 34% following Pavel Durov’s release from police custody.
Additionally, TON’s open interest has also skyrocketed by 7% in the last 4 hours, indicating growing interest from traders and investors amid Pavel’s recent release.