TLDR
- Toncoin (TON) experienced a 20% price increase after Telegram CEO Pavel Durov received permission to temporarily leave France
- Durov had been restricted from international travel since his August 2024 arrest on charges related to content moderation on Telegram
- Open interest in TON derivatives reached $169 million, the highest level in 42 days
- Despite the recent rally, reports indicate that 96% of TON holders remain at a loss
- The case reflects broader tensions between privacy-focused messaging platforms and regulatory authorities
The price of Toncoin (TON) surged by approximately 20% following news that Telegram founder Pavel Durov has been granted permission to temporarily leave France. The cryptocurrency, which serves as the native token for The Open Network blockchain associated with Telegram, traded at $3.45 as of March 15.
TON Price
Durov’s travel authorization marks a major development in his ongoing legal situation. The tech entrepreneur had been under strict travel restrictions since his arrest at Le Bourget Airport near Paris in August 2024.
French authorities detained Durov on accusations related to Telegram’s alleged role in enabling organized criminal activities. After questioning, he was released on bail set at €5 million ($5.6 million) but was barred from leaving France.
According to sources who spoke with AFP, an investigating judge has modified these conditions. Durov departed for Dubai on March 16 and is permitted to remain outside France for “several weeks.”
The crypto market’s reaction was swift and clear. Open interest in Toncoin derivatives jumped 67% in a 24-hour period following the reports of Durov’s departure, reaching $169 million.
This represents the highest level of open interest for TON since February 1. The metric tracks the total number of unsettled futures and options contracts, serving as an indicator of market activity and trader interest.
Data from Dune Analytics shows a sharp increase in daily TON transactions. This activity peaked on March 13, shortly before the news of Durov’s travel permission became public.
The price reaction mirrors previous TON market movements linked to Durov’s legal status. When news broke of his arrest in August 2024, TON’s price plummeted by 35%, dropping from $6.88 to $4.44 by September.
This time, however, the market moved in the opposite direction. TON gained nearly 20% in value as traders reacted positively to what many viewed as an easing of legal pressure on the Telegram founder.
The TON Foundation expressed solidarity with Durov. They highlighted Telegram’s role as “a global movement committed to the freedom of communication and the inalienable right to privacy” with its user base of nearly one billion people worldwide.
According to Trader Edge on X, Ton could be looking at a push towards $4.60 next.
$TON has broken out of the falling wedge with a 54% pump 🚀
If the price sets a higher low, it could push toward the major resistance at $4.60
A big week ahead with the FOMC on Wednesday and key earnings reports! pic.twitter.com/PMhl8MD7yZ
— Trader Edge (@Pro_Trader_Edge) March 16, 2025
Other projects within the TON ecosystem also celebrated the news. The AKA token community described Durov’s travel approval as a “victory for freedom” in the context of online privacy and communication rights.
Despite the optimism surrounding this development, challenges remain for TON investors. Reports indicate that 96% of TON holders were still at a loss at the time of writing, reflecting the token’s struggle to maintain consistent upward momentum.
Market analysts have offered mixed perspectives. Some, like Crypto Billion, suggested on social media that Toncoin is showing signs of “a potential long-term accumulation phase” as it finds stability near key support levels.
Others point to potential risks in the current rally. If TON’s price returns to the $3 level where it traded before the news broke, approximately $18.8 million in long positions could face liquidation.
The case continues to highlight tensions between privacy-focused platforms and government regulators. Authorities in multiple countries have pressured Telegram to enhance its content moderation practices, particularly regarding extremist material.
Durov’s legal situation may have broader implications for the cryptocurrency and messaging app industries. The outcome could influence how other privacy-oriented services approach compliance with local regulations while maintaining their core privacy features.
In January, Telegram strengthened its connection to TON by announcing it would exclusively support The Open Network for its messenger services. TON now serves as the only blockchain infrastructure for Telegram’s Mini App ecosystem.
