As a seasoned crypto investor with a knack for spotting opportunities amidst chaos, I find myself intrigued by the recent developments surrounding TONcoin. The arrest of Telegram founder Pavel Durov has undoubtedly cast a shadow over the project, but as we all know in this wild world of cryptocurrencies, uncertainty can often breed opportunity.
Following the arrest of Telegram’s founder, Pavel Durov, there’s a sense of unpredictability surrounding Toncoin, a venture that was originally part of the social messaging app but has since been separated.
Despite assurances from the team about the TON network’s durability and ongoing function, the ultimate impact of Durov’s detention on both Telegram and TON is still unclear.
According to CryptoQuant’s latest analysis, three key changes were observed in TON after recent events. Initially, its price dropped significantly from $6.8 to $5.3 on August 25. This decrease was followed by a further dip to $5.1 early on August 27. These price fluctuations led to a weekly decline of more than 22%. Despite this downturn, TON – the tenth-largest cryptocurrency by market cap – has shown some signs of recovery and is currently trading around $5.43.
2. Even amidst the chaos, the system, comprising the main chain and the sub-chains, consistently mined blocks regularly, as per normal operations.
Ultimately, the demand for TON saw a significant rise, going from around $200 million to $360 million. This represents an impressive 80% growth, suggesting a notable surge in speculative trading.
As a researcher, I can’t help but highlight the significant growth experienced by TON this year, culminating in its peak just before Durov’s arrest. The number of active addresses on the blockchain reached an unprecedented high last week, coinciding with escalating network activity and the exciting addition of Binance listing.
1. The TON system has garnered attention from venture capitalists mainly because of its association with the Telegram messaging platform. The social media app’s revenue-sharing program in February, along with Tether’s launch of USDT on TON in April, have significantly strengthened the network. Additionally, popular mini-games like Notcoin and Hamster Kombat have been contributing to its continued growth.
This year, even with the market decline, there’s been a substantial increase in large investors (often referred to as “whales”) buying up this particular asset.
Read More
- PENDLE PREDICTION. PENDLE cryptocurrency
- W PREDICTION. W cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
- FIO PREDICTION. FIO cryptocurrency
- BONE PREDICTION. BONE cryptocurrency
- WALV PREDICTION. WALV cryptocurrency
- CAMIKAZE78: BattleBit’s MUST USE Weapons! (Before the TTK Update)
- French President Macron Addresses Telegram CEO Durov’s Arrest as Legal Matter, Not Political
- Why Destiny 2 Fans Are Concerned About the Game’s Narrative Future
- Coinbase Calls Campaign Finance Violation Accusation Misinformation
2024-08-27 16:19