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TON network resumed operations after interruptions over two days. The interruptions were caused by the overload from the DOGS token, leading to an 8% increase in Toncoin’s price. Telegram CEO Pavel Durov’s detention negatively impacted the markets. Durov has been released under judicial control.
Second Crisis in TON Network
The TON network shut down for the second time in a short period, worrying users and investors. The overload caused by the DOGS token disrupted the system’s balance. Unexpected shutdowns have the potential to undermine trust in the Blockchain ecosystem.
With the network back online, the markets experienced expected movement. Toncoin delighted investors with an approximate 8% increase. However, the increase did not reach previous levels due to the uncertainty caused by Telegram CEO Pavel Durov’s detention. Once Durov was released under judicial control, the TON price rose to $5.94. However, at the time of writing, it was trading at $5.54.
Durov’s Detention Affected the Market
Durov’s detention was another development that disrupted the markets. Facing serious charges in France such as facilitating illegal activities and promoting child exploitation, Durov caused a significant upheaval in the cryptocurrency world. The close connection between Telegram and TON was evident with this detention. The development directly impacted Toncoin.
The events during the process once again demonstrated how fragile Blockchain projects can be. Technical problems in the network undermine investor confidence, while legal issues of leaders directly affect the value of cryptocurrencies. Although the TON network is back online, it is clear that it may take time for the markets to recover from the events.
It Is Beneficial to Monitor the TON Network
For investors, the fluctuations experienced are a process that needs to be closely monitored. Uncertainty in the cryptocurrency world will always remain a risk factor. Especially, legal issues faced by major players have become one of the most significant factors altering market trends.
Developments on the TON network need to be closely monitored. Technological and legal crises can cause sudden and unexpected fluctuations in cryptocurrency markets. Therefore, it is critically important for investors to take careful steps and closely follow developments.
