TON Surges Over 20%! Pavel Durov Released: Can It Push the Price Back to $8?

TradingKey - Boosted by positive news, TON's price surged 22%. Can the rally continue?  

On March 15, Telegram founder Pavel Durov was released, igniting the Toncoin (TON) community and driving TON up over 22% to a high of $3.64.

TON Price Chart, Source: TradingView.

Last Friday, the TON Foundation stated, "The TON Foundation celebrates the return of Pavel Durov's passport. We are pleased to learn that French authorities have returned Pavel Durov's passport, allowing him to leave the country freely."

On August 24, 2024, French police arrested Durov in Paris. After four days of detention, he was released on bail on August 28 under the conditions of paying a €5 million bail, reporting to the police twice a week, and not leaving the country.

Following this incident, TON's price continued to decline, dropping from a high of around $6.9 to $2.3, a cumulative decline of 67%. Now, with Durov fully released, TON has rebounded but faces resistance near the $4 level. It is unlikely to return to its all-time high of $8.2 set in June last year unless it develops another project like DOGS or NOT that can reignite market enthusiasm.