Following the news on March 15 that Telegram founder Pavel Durov regained access to his passport from French authorities, the Telegram-linked crypto Toncoin (TON) hasn’t stopped surging.
In the same day Durov was handed back his passport, he was quickly on a private jet out of France and to the safety of Dubai. Since then, TON
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has ripped over 30% and is currently trading at around $3.55.
$TON Gearing Up for a 100% Rally?
I see Toncoin rebounding strongly from the $2.40-$3.00 support zone, a key historical level. A breakout above the falling wedge’s upper trendline could send $TON to $5-$6 by mid-2025.#WhatsTheTicker #TON pic.twitter.com/lJEpDqjUUi
— Tom Tucker (@WhatzTheTicker) March 16, 2025
Durov Sunning Himself In Dubai As TON Breaks Out Of A Falling Wedge: Is A Big Move Coming?
The timing of the Telegram founder being handed his freedom was impeccable. It came as TON was struggling to break out of a falling wedge pattern it found itself in since the beginning of February.
After briefly tapping a support zone of $2.5, TON bounced gloriously on the news of Durov being reunited with his passport and free to travel. TON spiked right out of the falling wedge at around $2.9 and over the past few days has surged over 30% to its current price of roughly $3.5.
Toncoin’s spike in price has led to it regaining its status as a top 20 cryptocurrency by market cap, per CoinGecko. It briefly fell out of the top 20 but has since climbed back to number 14, just behind LEO.
TON has a circulating market cap of over $8.7 billion and over $18 billion in fully diluted valuation. It is a layer-1 blockchain, heavily integrated into the Telegram messaging app, with hundreds of tap-to-earn games such as Hamster Kombat, all built on Toncoin and playable via Telegram.
Price Up, Volume Up, Sentiment Up: Can Toncoin Push On To Become A Top 10 Coin?
The sentiment behind TON has been massively boosted as a result of the Durov news and as well as the price seeing an increase, so to has its trading volume. Prior to the Toncoin official announcement on X of Pavel being granted freedom to travel, TON was struggling to hit over $200 million in daily trading volume.
In the three days since the news broke on March 15, TON has processed over $1.4 billion in volume, an average of $460 million per day. This spike of more than 100% in trading volume shows an increased appetite for the Telegram-backed cryptocurrency.
Many within the community believe that due to many influential governments around the world now being pro-crypto, Durov will likely see his legal troubles fall away, leaving him, Telegram and the TON ecosystem to build and thrive without scrutiny from regulators and law enforcement.
Something in my gut is telling me that @ton_blockchain is coming to the states alot sooner than any of us think
The interactions between @durov and @elonmusk have been increasing in recent months.
Durov followed Elon and is the only person he follows now
Durov… pic.twitter.com/SJKnec441O
— DegeneraTON (@DegeneraTON) March 18, 2025
With TON running on a wave of bullish sentiment, the next key level to watch is at $6. It has acted as a difficult resistance zone on three separate occasions, going back to August 2024. Also in September and December 2024, TON either rejected before $6 or in December’s case, it briefly went above before a harsh rejection that saw the beginning of the falling wedge it has only just broken out of.
If TON does run here all the way to $6, it offers a potential 70%+ gain for those who are in from its currently $3.55 level. A break through the $6 resistance zone gives Toncoin a clear run to its June all-time high levels of $8 and beyond.
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TON continues to fly following Telegram founder Pavel Durovs detainment in France
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The post Telegram Founder Pavel Durov Enjoys His New Found Freedom In Dubai As Toncoin (TON) Continues To Rip appeared first on 99Bitcoins.
