Toncoin Price Prediction As Telegram CEO Pavel Durov Criticizes France Arrest

As a seasoned analyst with years of experience in the dynamic world of crypto, I find the recent surge in Toncoin price intriguing. With my extensive background in analyzing market trends and understanding the nuances of blockchain technology, I can confidently say that this price action is not just a fleeting moment but could potentially mark a significant shift in the Ton ecosystem.


The value of Toncoin has climbed by 4.2% after remarks made by Telegram CEO Pavel Durov, who deemed the recent arrest in France as misguided. This event seems to have increased curiosity about the Ton ecosystem since its price rose by approximately 7.5% compared to Bitcoin (BTC).

Holders in Loss, But Toncoin Price Could Change the Tide

According to IntoTheBlock’s data analysis, approximately 9% of TON holders are currently seeing a profit at the current price of $4.81. On the other hand, about 86% of all TON holders are still experiencing losses. Interestingly, around 5% have neither gains nor losses (break-even). Furthermore, only about 5% of the total TON wallets have owned the asset for over a year, while approximately 33% have been holding it for one year.

Toncoin Price Prediction As Telegram CEO Pavel Durov Criticizes France Arrest

The data could potentially be impacted by the recent increase in ‘tap-to-earn’ games that are popular on the blockchain integrated with Telegram.

As per Blum CEO Gleb Kostarev’s statements, gamers on the Telegram T2E platform have played a significant role in driving widespread acceptance of cryptocurrencies, which has long been anticipated within the industry. Interestingly, he noted that around half of these Telegram T2E gamers were new to the world of crypto and had not previously engaged with Web3 platforms.

In light of recent events involving an arrest in France, Telegram has revised its policy for reporting illicit content. This adjustment comes after Durov, the platform’s founder, admitted that it is possible for malicious users to exist among the massive user base of approximately 950 million monthly users on Telegram.

I’m continuing to work on deciphering the events in France, but I appreciate your worries. My commitment is focused on ensuring that individuals who misuse the Telegram platform won’t impact the future of our over 950 million users.

My full post below.

— Pavel Durov (@durov) September 5, 2024

Despite ITB data showing a record increase in Toncoin addresses, it’s clear that both the network and its user base are expanding rapidly. This upward trend suggests a promising outlook for potential price increases in the future.

Toncoin Price Prediction As Telegram CEO Pavel Durov Criticizes France Arrest

Toncoin price increased by 4.2% in the last 24 hours to trade at $4.81 over Durov’s latest comments.

Ton Price Analysis: 108% Surge Pontential On Pavel Durov Comments

At this moment, the value of the asset is experiencing a correction phase following a substantial upward trend that reached approximately $8 as its peak.

The cost of TON has returned to approximately the 61.8% Fibonacci retracement point, a region that typically offers robust support. At present, TON is looking for backing in the $4.5-$4.7 price range. If this support is breached, it might lead the price to the 78.6% Fibonacci level of support, around $3.5.

Toncoin Price Prediction As Telegram CEO Pavel Durov Criticizes France Arrest

Instead, if the TON price reaches $7, it could face an immediate obstacle as this is approximately the 23.6% Fibonacci retracement level. If it manages to surpass this resistance, the Toncoin price might continue climbing towards the 27% Fib extension level, around $10. This would represent a potential increase of about 108% from its current price.

Over the past few weeks, Toncoin’s price has experienced significant fluctuations due to Durov’s arrest. Looking at its chart, it seems to be shaping like a rounded top, typically a sign of a bearish reversal. Yet, it might not lead to a downturn because on-chain data suggests a bullish trend instead.

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2024-09-06 13:40