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TON Price Jumps 20% Following Positive News On Telegram Founder
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TON Price Jumps 20% Following Positive News On Telegram Founder

Opeyemi Sule
Opeyemi Sule
2 months ago
3 mins read
Ton price

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The TON price has reclaimed the $3 mark with an over 20% spurt on Saturday, March 15. This price spike was triggered by the news of a French court approving the departure of Telegram founder Pavel Durov from France.

Telegram Founder Reportedly Cleared To Leave France

According to a report on Saturday, Durov was granted permission by a French court to depart the country, where he faces several charges of enabling organized crime. One of AFP’s sources said that the Telegram founder had been authorized to leave France for “several weeks.”

Durov’s legal troubles began on August 24, 2024, after he was detained at the Le Bourget airport in Paris. A few days later, France’s Prosecutor’s Office brought several charges against the Telegram founder centered around running a messaging platform that allegedly enabled illegal activities.

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On August 28, Durov was released on a $6 million bail, albeit with restrictions on his movement and travels. The French prosecutors demanded that the Telegram founder remain in the country until the conclusion of their investigation.

While the current condition of Durov’s case remains unclear, a source close to the case stated the Telegram founder was allowed to leave France temporarily after the investigating judge approved his request to modify the conditions of his supervision. “A third source said Durov had departed for Dubai,” AFP reported.

Durov’s arrest led to an uproar within the crypto community at the time, as experts assessed the implications of such a move on the future of technology and encryption. Moreover, it marked another incident in the worrying trend of holding founders and developers accountable for the use of their platforms.

It is worth mentioning that, as of press time, there has been no official word from Telegram and Durov confirming the report.

TON Price Up 20%

Following the report of Durov’s departure from France, TON (native cryptocurrency of The Open Network) reacted with a more than 20% price spike. As with the general crypto market, the altcoin has struggled to build any momentum in the past few months.

After reaching the local high of $6 in early December, the TON price has since been on a steady decline. On Tuesday, March 11, the cryptocurrency dropped beneath the $2.5 mark for the first time in over a year.

As of this writing, the TON price stands at around $3.4, reflecting an almost 18% surge in the past 24 hours. According to CoinGecko, the token’s performance has improved to a positive 17% gain in the past seven days.

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TON Price
TON price on the daily timeframe | Source: TONUSDT chart on TradingView
Featured image from Unsplash, chart from TradingView
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Opeyemi Sule
Opeyemi Sule

Opeyemi Sule

Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.

Read more

Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part - in fact, far from it.

Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.

When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.

Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books - ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.

Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.

Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time - he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.

Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon - cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment - spreading the crypto gospel to the rest of the world.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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