Toncoin

<div class="flex-shrink-0 flex flex-col relative items-end"> 
 <div> 
  <div class="pt-0"> 
   <div class="gizmo-bot-avatar flex h-8 w-8 items-center justify-center overflow-hidden rounded-full"> 
    <h4 class="relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8"><strong>The <a href="https://www.coingecko.com/en/coins/toncoin" target="_blank" rel="noopener">TON token</a> surged to 1.1 million daily users on May 13th and led the TON ecosystem in market cap as of August 26th.</strong></h4> 
   </div> 
  </div> 
 </div> 
</div> 
<p>This remarkable rise, however, was accompanied by turbulence in the market, particularly following the arrest of Telegram CEO Pavel Durov.</p> 
<h5><strong>Toncoin Reaches $13B Market Cap Despite Market Turbulence</strong></h5> 
<p>Durov’s arrest occurred on August 23rd, shortly after his plane landed at Le Bourget airport near Paris. This high-profile event introduced uncertainty into the market, with Toncoin experiencing notable fluctuations in value.</p> 
<p>According to data from <a href="https://app.intotheblock.com/perspectives/ton_ecosystem" target="_blank" rel="noopener">IntoTheBlock (ITB)</a>, the price of Toncoin plummeted by 25% to $5.24 on August 25th, just two days after Durov’s arrest. This sharp decline underscores the impact that major news events involving key figures can have on cryptocurrency markets.</p> 
<p><img decoding="async" class="wp-image-149573 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxbvbnbnnbm-300x224.png" alt="" width="591" height="441" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxbvbnbnnbm-300x224.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxbvbnbnnbm-564x420.png 564w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxbvbnbnnbm-80x60.png 80w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxbvbnbnnbm-265x198.png 265w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxbvbnbnnbm.png 636w" sizes="(max-width: 591px) 100vw, 591px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://www.coingecko.com/en/coins/toncoin" target="_blank" rel="noopener">Coingecko</a></strong></h6> 
<p>Before <a href="https://www.tf1info.fr/justice-faits-divers/info-tf1-lci-le-fondateur-et-pdg-de-la-messagerie-cryptee-telegram-interpelle-en-france-2316072.html" target="_blank" rel="noopener">the arrest</a>, the Toncoin ecosystem had demonstrated a solid foundation of support. As of August 19th, ITB data indicated that two tokens within the ecosystem, <a href="https://x.com/GoMining_token" target="_blank" rel="noopener">Gomining</a>, and <a href="https://x.com/ston_fi" target="_blank" rel="noopener">Ston</a>, were characterized by a high concentration of whale investors, with 98% of the tokens held by large stakeholders.</p> 
<h5><strong>More About Toncoin</strong></h5> 
<p>While this whale concentration signifies strong backing for the <a href="https://www.coingecko.com/en/categories/ton-ecosystem" target="_blank" rel="noopener">TON ecosystem</a>, it also presents risks. Large holders, or whales, have the potential to influence market movements significantly, contributing to price volatility.</p> 
<p><img decoding="async" class="wp-image-149576 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxvcbvbnbvnbhjjh-300x282.png" alt="" width="552" height="519" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxvcbvbnbvnbhjjh-300x282.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/09/vcxvcbvbnbvnbhjjh.png 394w" sizes="(max-width: 552px) 100vw, 552px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/0xadriandefi/status/1800518240936087752" target="_blank" rel="noopener">X</a></strong></h6> 
<p>Despite the recent downturn and shifting market sentiment, there are indications that Toncoin might be poised for a rebound. Technical and market analyses suggest that the token could recover from its recent dip. The market’s reaction to significant events such as Durov’s arrest often creates opportunities for recovery, particularly when underlying technology and user engagement remain robust.</p> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="aligncenter wp-image-124240" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg" sizes="(max-width: 714px) 100vw, 714px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1.jpg 1197w" alt="Coins" width="714" height="88"></a></p> 
<div class="youtube-embed" data-video_id="_7u687ucqgE">
 <iframe title="Should I Sell My ETH for Solana?" width="696" height="392" src="https://www.youtube.com/embed/_7u687ucqgE?feature=oembed&amp;enablejsapi=1" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div> 
<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted risk tolerance levels of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses you may incur due to any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/toncoin-hits-13b-market-cap-amid-durov-arrest/">Toncoin Hits $13B Market Cap Amid Durov Arrest</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Toncoin Hits $13B Market Cap Amid Durov Arrest

Altcoin Buzz

Other articles published on Sep 2, 2024

Pundi X Partners with Futureverse to Develop AI Data Omnichain Layer

Bitcoin Next Big Surge Could Be Explosive-But Bulls Need to Push the Price Beyond These Levels

Dogecoin Price Prediction: Analysts Claim New AI Altcoin Will Make 100x Better Returns

Vitalik Buterin explores ‘glue and coprocessor’ for computing

Crypto Market Crash: Bitcoin Drops Below $58,000, Ethereum Retests $2.4K Mark!

What Is the Recently Funded Bolt Protocol?

Join our free newsletter for daily crypto updates!