Toncoin (TON), the native cryptocurrency of the Telegram Open Network, has recently experienced a significant price surge, climbing over 20% to trade above $3.45. This uptick coincides with the return of Telegram founder Pavel Durov's passport by French authorities, allowing him to travel freely.
Pavel Durov's Legal Situation
In August 2024, Durov was arrested in France on allegations that Telegram facilitated illegal activities, including drug trafficking and the distribution of child sexual abuse material. He was released on a €5 million bail but was prohibited from leaving the country. Recently, French authorities returned his passport, permitting him to travel to Dubai for several weeks.
Impact on Toncoin
The resolution of Durov's travel restrictions has been perceived positively by the TON community, viewing it as a victory for free speech and digital privacy. This sentiment has contributed to the recent price surge of Toncoin.
Future Prospects of Toncoin
Analysts have varying predictions for Toncoin's future value. Some forecasts suggest that TON could reach as high as $22.91 by March 2025, marking a 375% increase from its current price. news.mkncrypto.com Other projections are more conservative, estimating that TON might fluctuate between $3.61 and $7.17 in March 2025.
Overall, the recent developments surrounding Pavel Durov and the subsequent price movements of Toncoin highlight the intricate relationship between regulatory actions and cryptocurrency markets. As the situation evolves, stakeholders will closely monitor how these factors influence Toncoin's trajectory.