Toncoin (TON) price surges 20% after Telegram founder Pavel Durov is granted permission to temporarily leave France.

The cryptocurrency, which serves as the native token for The Open Network blockchain associated with Telegram, traded at $3.45 as of March 15.

After a turbulent period marked by travel restrictions and legal woes, Telegram founder Pavel Durov has been granted permission to temporarily leave France, sources familiar with the matter have revealed to AFP.

The news of Durov’s departure and travel authorization has sparked reactions in the crypto market, with traders keeping a close eye on the movements of Toncoin (TON).

Durov’s travel authorization marks a major development in his ongoing legal situation, which began with his arrest at Le Bourget Airport near Paris in August.

French authorities detained Durov on accusations related to Telegram’s alleged role in enabling organized criminal activities. After questioning, he was released on bail set at €5 million ($5.6 million) and barred from leaving France.

However, an investigating judge has modified these conditions, allowing Durov to depart for Dubai on Friday, sources added. He is permitted to remain outside France for “several weeks.”

The crypto market's response was swift and clear. Open interest in Toncoin derivatives jumped 67% in a 24-hour period following the reports of Durov’s departure, reaching $169 million.

This represents the highest level of open interest for TON since February 1. The metric tracks the total number of unsettled futures and options contracts, serving as an indicator of market activity and trader interest.

Data from Dune Analytics showcases a surge in daily TON transactions, which peaked on March 13—shortly before the news of Durov’s travel permission broke.

The price reaction mirrors previous market movements linked to Durov’s legal status. When news broke of his arrest in August, saw TON’s price plummet by 35%.

At the time, the token dropped from $6.88 to $4.44 by September.

This time, however, the market moved in the opposite direction. TON gained nearly 20% in value as traders reacted positively to what many viewed as an easing of legal pressure on the Telegram founder.

The TON Foundation expressed solidarity with Durov, highlighting Telegram as “a global movement committed to the freedom of communication and the inalienable right to privacy” with its user base of nearly one billion people worldwide.

According to Trader Edge on X, Ton could be looking at a push towards $4.60 next.

$TON has broken out of the falling wedge with a 54% pump

If the price sets a higher low, it could push toward the major resistance at $4.60

A big week ahead with the FOMC on Wednesday and key earnings reports! pic.twitter.com/PMhl8MD7yZ

— Trader Edge (@Pro_Trader_Edge) March 16, 2025

Other projects within the TON ecosystem also celebrated the news. The AKA token community described Durov’s travel approval as a “victory for freedom” in the context of online privacy and communication rights.

Despite the optimism surrounding this development, challenges remain for TON investors. Reports indicate that 96% of TON holders were still at a loss at the time of writing, reflecting the token’s struggle to maintain consistent upward momentum.

Market analysts have offered mixed perspectives. Some, like Crypto Billion, suggested on social media that Toncoin is showing signs of “a potential long-term accumulation phase” as it finds stability near key support levels.

Others point to potential risks in the current rally. If TON’s price returns to the $3 level where it traded before the news broke, approximately $18.8 million in long positions could face liquidation.

The case continues to highlight tensions between privacy-focused platforms and government regulators.

Authorities in multiple countries have pressured Telegram to enhance its content moderation practices, especially regarding extremist material.

Durov’s legal situation may have broader implications for the crypto and messaging app industries. The outcome could influence how other privacy-oriented services approach compliance with local regulations while maintaining their core privacy features.

In January, Telegram strengthened its connection to TON by announcing it would exclusively support The Open Network for its messenger services. TON is now the only blockchain infrastructure for Telegram’s Mini App ecosystem.