On a typically quiet Saturday for crypto trading, Toncoin’s price surged dramatically within minutes, reaching a 12-day high of over $3.5. This sharp increase followed an announcement from the TON Foundation that Pavel Durov’s passport had been returned by French authorities.
Last summer saw significant events when French authorities arrested Telegram’s founder, Pavel Durov, on suspicions of various offenses through his app. This arrest immediately impacted TON, causing its price to plummet significantly. Despite a broader market bull run, TON struggled to recover, dropping to around $2 after previously trading above $8 before Durov’s arrest.
The TON Foundation recently shared positive news, stating that “Pavel Durov’s passport has been returned to him by French authorities, granting him the freedom to leave the country at his discretion.” They emphasized the importance of this development, highlighting Telegram’s global influence and commitment to communication freedom and privacy rights. The statement praised the decentralized TON community’s support for Durov’s dedication to free speech and online privacy.
Following this announcement, TON’s price surged by over 20%, breaking the $3 resistance and reaching $3.5 before a slight correction. #Toncoin
