Cryptocurrency markets were shaken by a detention incident, but finally good news arrived and TON Coin surged. BTC price also balanced the drop from the OpenSea news and approached $60,000 again.
Why is TON Coin Rising?
Pavel Durov was released after his detention, which initially caused TON Coin to drop. The Russian billionaire was released from the police station and is now heading to court. Here, he will face “initial questioning and a possible indictment.” The release was likely misunderstood by investors, causing the price to spike abnormally before pulling back slightly.
Durov’s arrest sparked debates about freedom of expression, while French President Emmanuel Macron emphasized that the move was not “political.” The arrest warrant was issued in March 2024 due to failure to share information about a criminal sharing sexual content with minors.
Now Durov is in court. If a decision for trial without detention is made, this could trigger a second wave of rise for TON Coin. However, if a decision for trial with detention is made due to flight risk or indictment details, we might see a sharp drop in TON Coin. Investors are bracing for volatility in both directions.
