Toncoin Community Reacts to Pavel Durov’s Arrest: Potential Surge in $TON and $REDO Prices Upon Release?

Toncoin ($TON) and Resistance Dog ($REDO) are set for a potential surge if Telegram CEO Pavel Durov is freed following his unexpected arrest in Paris on Saturday.

Durov is reportedly facing accusations of “facilitating fraud, drug trafficking, organized crime, promoting terrorism, and cyberbullying.” Authorities claim that Durov did not sufficiently moderate user conduct on the privacy-focused messaging platform, which has been implicated in recent race riots across the UK.

Telegram Releases First Official Statement on Durov’s Detention
Telegram has provided its initial official statement concerning the detention of CEO Pavel Durov, whose situation remains uncertain amid reported non-cooperation from French authorities with the Russian embassy. The statement,… https://t.co/kOTjZrhf0Z pic.twitter.com/xdobD31E39

— The Wolf Of All Streets (@scottmelker) August 25, 2024

The $13.75 billion market capitalization Toncoin ($TON) ranks as the eleventh largest cryptocurrency by market cap. Initially part of Telegram, it was separated in 2020 after the US SEC indicated that Telegram’s involvement in cryptocurrency might violate federal securities regulations.
$TON has mirrored the downward trend of market leader Bitcoin ($BTC) today.

Are The Open Network Coins Ready to Rally?

In the past 24 hours, Toncoin’s native $TON token has decreased by 3.8%, trading at $5.43 at the time of this writing. This current price indicates a seven-day decline of 20.6%.

The over-a-trillion-dollar Bitcoin has lost 2.4% of its value overnight, yet it has increased by 2.7% to its current price of $62,401.

Meanwhile, The Open Network’s leading meme coin, Resistance Dog ($REDO), is experiencing a rise after Ton developers updated their profile pictures to feature the meme coin avatar following Durov’s arrest. At its current price of $0.682, $REDO is now 98.5% more valuable than it was last Tuesday.

If Durov is released, both $REDO and $TON are expected to receive a boost, although it is unlikely to be sufficient for a long-term increase in the assets’ values.

Toncoin has struggled to maintain the $7 mark since late July. Recent downturns have pushed the price just above $5, and any favorable news regarding Telegram could help it establish a solid base at $7 and consolidate for further gains.

A robust relative strength index (RSI) of 48 and rising should prevent any additional price declines today.

While Toncoin ($TON) and Resistance Dog ($REDO) Await Updates, Crypto All-Stars Celebrates $800,500 Launch

TON is a well-established layer 1 network with a rapidly expanding community, positioning Toncoin’s $TON as one of the more promising long-term investments in crypto.

Conversely, $REPO is a trending meme coin, making it less likely to follow the $44 billion meme coin sector on a favorable day.

Investors seeking the explosive opportunities reminiscent of early crypto exploration should consider diversifying their portfolios with tokens from innovative pre-sales that are quietly drawing in millions.

One project leading the way with a unified staking protocol for meme coin enthusiasts is Crypto All-Stars, represented by the $STARS token.

Crypto-All Stars is an innovative staking platform that consolidates the most popular meme coins in one location.

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To this end, the team has allocated 20% of the tokens for its presale; another 25% is designated for presale staking, 20% for marketing, 10% for CEX/DEX listing, and the remaining 25% for the MemeVault Ecosystem.

This new meme coin initiative has gained significant traction, with its presale already raising $638,450 since its launch last week.

After making a purchase, you can start staking for rewards and claim the tokens once the presale concludes.

Therefore, if you are a meme coin holder looking to put your assets to work, Crypto All-Stars presents a more favorable option than SUn Wukong. Visit the website to acquire $STARS using ETH, USDT, BNB, or even by card.

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