Notcoin

Hamster Kombat

Wednesday

Toncoin

Following the&nbsp;<a href="https://www.bloomberg.com/news/articles/2024-08-26/telegram-ceo-held-over-alleged-child-protection-failures-on-app" rel="noopener noreferrer nofollow">arrest and detention</a>&nbsp;of Telegram Founder Pavel Durov in France, Toncoin (TON) has taken a major price hit. The Telegram CEO is facing a major enforcement action from the authorities in France.
The accusations before the 39-year-old Russian-born billionaire is that the messaging service has failed to fight crime on the app properly.
<h2 class="wp-block-heading" id="h-multiple-allegations-against-telegram-ceo">Multiple Allegations Against Telegram CEO</h2>
In total, Durov faces 12 count charges, including claims of permitting the spread of child sexual abuse materials on Telegram. Durov was arrested on Saturday at Le Bourget airport north of Paris. From 24 hours, the judge presiding over the case extended his detention to 96 hours. Therefore, the detention will hopefully elapse on Wednesday if not further extended.
The magistrate has until then to decide whether to press charges on Durov. Beyond this, he could also be a witness in the investigation case initiated by a cybercrime unit of the Paris prosecutor’s office. Investigative judges are already listing a couple of accusations, including refusal to help authorities run legal wiretaps on suspects.
Other allegations are aiding and abetting drug trafficking on the messaging app.
<h2 class="wp-block-heading" id="h-ton-goes-from-grace-to-grass">TON Goes From Grace to Grass</h2>
With the strong interconnection between Telegram and Toncoin, it is no surprise that Toncoin has fallen following these accusations against Telegram and its CEO.
From reigning as one of the fastest-growing and top-performing tokens, TON is currently grappling with keeping its ranking as one of the top ten digital currencies in the crypto space. At the time of this writing, the Open Network ecosystem token registered a 5.98% drop and was trading for $5.52.
Recently, Toncoin and its biggest gaming token, Notcoin (NOT), have&nbsp;<a href="https://www.thecoinrepublic.com/2024/07/15/telegram-based-notcoin-and-toncoin-primed-for-surge-is-an-80-increase-possible/" rel="noopener noreferrer nofollow">registered impressive gains</a>. This bullish growth came despite a general crypto market slowdown. They are both known for registering double-digit price increases, drawing on their GameFi appeal. Even a week ago, TON’s ecosystem fundamentals and technical indicators&nbsp;<a href="https://www.thecoinrepublic.com/2024/08/16/toncoin-ton-uniswap-uni-and-cronos-cro-defying-bearish-order/" rel="noopener noreferrer nofollow">overshadowed the bearish turn</a>&nbsp;of the broader crypto market.
TON’s other key metrics are also not looking better at the moment. TON’s market cap is also 5.08% down, making it the tenth-largest cryptocurrency in the industry. This suggests a further drop in value might eventually displace the Telegram-linked crypto from ranking among the leading ten digital assets.
Toncoin’s trading volume is also down at $938,499,197, corresponding with a 66.50% drop in the last 24 hours. This makes TON the tenth most-traded coin in the crypto market
<h2 class="wp-block-heading" id="h-hamster-kombat-and-notcoin-could-plunge-further">Hamster Kombat And Notcoin Could Plunge Further</h2>
Notably, a sanction on the social media app following the Telegram founder’s ordeal in France might have a ripple effect beyond TON. It could also impact other TON ecosystem tokens like Notcoin (NOT) and&nbsp;<a href="https://www.thecoinrepublic.com/2024/08/01/hamster-kombat-surpasses-300m-users-announces-hmstr-token-airdrop/" rel="noopener noreferrer nofollow">Hamster Kombat</a>&nbsp;(HMSTR).
The latter already has a lot to deal with, especially after&nbsp;<a href="https://www.thecoinrepublic.com/2024/08/07/hamster-kombat-faces-backlash-over-airdrop-delays-and-updates/" rel="noopener noreferrer nofollow">the backlash it experienced for delaying its airdrop in July</a>.
In the meantime, Notcoin’s price has dropped by 7.61% and is now trading at $0.008755, according to market data. Similarly, HMSTR is $0.367113, down by 6.83% within the last 24 hours.
The post <a href="https://www.thecoinrepublic.com/2024/08/27/toncoin-ton-risks-falling-off-top-10-as-france-extends-telegram-founders-detention/" rel="noopener noreferrer nofollow">Toncoin (TON) Risks Falling Off Top 10 As France Extends Telegram Founder’s Detention</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.

Toncoin (TON) Risks Falling Off Top 10 As France Extends Telegram Founder’s Detention

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