TON Coin rises on the back of Pavel Durov's trip to Dubai: what to expect?

TON continues its bullish trend over the weekend. Pavel Durov has been allowed to travel freely, just like the French authorities.

output: As we discussed earlier today, the French authorities have allowed Pavel Durov to travel again.

Earlier this year, the founder of Telegram was arrested by the French authorities. At the time, they had an issue with the social network’s moderation policy, which resulted in the French police seizing Durov’s passport and forbidding him to leave the country.

This arrest and detention sparked a lot of controversy about free speech on networks like Telegram. After several months, the French authorities have returned Durov’s passport, allowing him to travel again.

The arrest came at a time when the Open Network’s native cryptocurrency, TON, was showing signs of rapid growth. Many people saw the arrest as an attack on Telegram and TON.

The market reacted positively to reports that he was allowed to leave France.

TON just experienced its sharpest bullish rebound since last November. The cryptocurrency is trading at $3.47 at the time of publication, having seen a rise of just over 18% in the last 24 hours.

(Chart: CoinGecko)

The crypto is trading within the $3.30 to $3.40 zone, a level that traders will be closely watching.

At the moment, TON Coin is showing no signs of slowing down. The crypto has been in the green zone for the last 5 days, showing that it is still highly attractive to traders.

Currently, the cryptocurrency is up 47% since the last local low on March 11. Over the past 24 hours, TON’s trading volume totaled $466.82 million, showing an increase of 186.52%.

Despite the recent recovery, TON is still trading at a 51% discount from its December peak. The data showed that 99% of TON addresses owned less than 1 BTC.

In addition, 66% of TON addresses had a balance of less than $1000 coins. Only 0.97% of addresses held over $100,000 in TON coins.