Toncoin (TON) saw a 67% increase in open interest and 17-20% price surge following news of Telegram founder Pavel Durov’s temporary departure from France
Durov was allowed to travel to Dubai after months of legal restrictions in France where he faces charges related to Telegram’s alleged role in enabling organized crime
TON is The Open Network’s native cryptocurrency and the exclusive blockchain infrastructure for Telegram’s Mini App ecosystem
Despite the recent price surge, 96% of TON holders were reportedly at a loss at press time
The case highlights ongoing tensions between regulators and privacy-focused platforms like Telegram
Toncoin (TON) prices jumped nearly 20% following reports that Telegram founder Pavel Durov received permission to temporarily leave France.
The cryptocurrency, which serves as the native token for The Open Network and Telegram’s blockchain infrastructure, saw its value rise to $3.45 on March 15 after months of downward pressure.
Durov had been under strict travel restrictions since his arrest in August 2024. He was detained at Le Bourget Airport near Paris on charges related to allegations that Telegram enabled organized crime activities. After questioning, he was released on a €5 million ($5.6 million) bail.
The court has now allowed Durov to travel to Dubai. Sources told AFP (Agence France-Presse) that he left France on March 16. The modified supervision conditions permit him to stay outside France for “several weeks.”
Durov holds multiple passports. These include Russian, French, and UAE citizenship. Telegram has not issued any official statement regarding his travel or the ongoing legal case.
Market Reaction
Open interest in Toncoin showed a strong market reaction. Data from CoinGlass shows TON’s open interest jumped 67% over 24 hours to reach $169 million. This represents the highest level since February 1.
Open interest tracks the total number of unsettled derivative contracts. These include options and futures tied to the cryptocurrency. The spike indicates growing trader activity and interest in TON.
On-chain data supports this trend. Dune Analytics reported a sharp rise in daily TON transactions. A major spike occurred on March 13, just before the announcement of Durov’s travel permission.
According to Trader Edge on X, Ton could be looking at a push towards $4.60 next.
$TON has broken out of the falling wedge with a 54% pump
If the price sets a higher low, it could push toward the major resistance at $4.60
The TON Foundation expressed support for Durov. In a statement, they said, “With nearly a billion users worldwide, Telegram represents a global movement committed to the freedom of communication and the inalienable right to privacy.”
Similar support came from the AKA token community. This project operates within the TON ecosystem and called Durov’s travel approval a “victory for freedom.”
Durov Arrest
This isn’t the first time TON prices reacted to Durov’s legal situation. When Durov was arrested in August 2024, TON’s open interest spiked 32% over 24 hours. However, the price fell nearly 12% at that time.
Some market analysts see positive signs for TON. Crypto Billion posted on X (formerly Twitter) that Toncoin is “showing signs of a potential long-term accumulation phase as it stabilizes near key support levels.”
However, the rally comes with risks. If TON’s price falls back toward the $3 level it traded at before the news, around $18.8 million in long positions could face liquidation.
TON’s price history shows volatility tied to Durov’s legal troubles. The price dropped over 35% after his August arrest, falling from $6.88 to $4.44 by September.
Despite the recent price increase, most TON investors face challenges. Reports indicate that 96% of TON holders were at a loss as of press time. The token has struggled to maintain momentum despite occasional price surges.
Durov’s legal case highlights broader regulatory tensions. Governments have pressured Telegram and similar services to enhance content moderation. The platform’s privacy-focused approach has put it at odds with authorities in multiple countries.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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