TON/USD token price surges over 20% following the recovery of Telegram founder Pavel Durov's passport from French authorities.

The price of TON has escalated by over 20%, trading above $3.45 and boasting a market capitalization of $8.14 billion. This price hike coincides with the return of Durov's passport by French authorities.

The price of (TON / USD) has surged more than 20% after French authorities returned founder Pavel Durov’s passport to him.

What Happened: The price of TON went up above $3.45, rendering a market capitalization of $8.14 billion. The price surge comes after French authorities returned founder Pavel Durov’s passport to him.

The TON Foundation, which supports the Telegram Open Network (TON), showed its support for Durov on social media. The foundation highlighted Durov’s stance on online free speech and privacy rights.

The value of TON has also been aided by the introduction of new features to the Wallet app on Telegram. These additions include multiple assets, a yield program, an updated user interface, and more.

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The new features in the Telegram Wallet app are part of the platform’s broader strategy to expand its presence in the Web3 space. Telegram, known for its messaging services, has been gradually venturing into blockchain and cryptocurrency domains.

Earlier this year, Pantera Capital led a $20 million investment in TON.

The Telegram app boasts over 900 million users, and its native token, TON, is used for various purposes within the app’s ecosystem.

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Why It Matters: The return of founder Pavel Durov’s passport and the subsequent surge in TON’s value highlight the impact of leadership on a cryptocurrency’s market performance.

Durov’s commitment to privacy and free speech, along with the introduction of new features to the Wallet app, have boosted investor trust, ultimately driving up TON’s market capitalization.