Toncoin has plunged 18% following the French authorities’ arrest of Pavel Durov, the CEO of Telegram. Duriv’s arrest significantly impacted the price of Toncoin, which plummeted 18% and is now trading at $5.74. The investor seems keen to know the future of Ton and whether the token may temporarily adopt a bearish stance, with volatility brought in by Durov’s arrest.
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Telegram CEO Pavel Durov Arrested: What Happened?
On August 24, Durov was detained by the French authorities soon after the telegram CEO landed in the region from Azerbaijan. The French unit, dubbed the OFIM, issues the warranty against Durov, a sectoral unit that deals with handling cases related to violence against minors.
The report also stated additional allegations, including how Durov purportedly allowed criminal activities to spread via Telegram and allegations related to Telegram’s role in disseminating illicit activities due to a lack of robust oversight.
With Durov’s arrest, a domino effect has been noted, and Toncoin has suffered gravely. Due to Ton’s association with Telegram, the token dropped 18% when the news of Durov’s arrest spread like wildfire worldwide. Notcoin, another token closely linked with Telegram, also fell, noting a 21% fall in the process.
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Toncoin September Analysis: Will the Ripple Effect Continue?
According to CoinCodex, Toncoin is still adamant on its path to secure a stunning new price of ATH by September. The token is on its path to surge and claim a new high. The token may trade trade at $21l by the end of next month. Durov’s arrest may have temporarily halted its bullish stance, but the token may surge positively beating all the odds.
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“According to our current Toncoin price prediction. The price of Toncoin is predicted to rise by 224.15% and reach $18.35 by September 25, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 55 (greed). Toncoin recorded 13/30 (43%) green days with 6.24% price volatility over the last 30 days.”