On March 15, on Saturday, it became known that Pavel Durov received permission from the French authorities to leave the country and left for Dubai. The Toncoin (Ton) course responded with a rapid increase of 22%, the price of a coin in one evening jumped from $ 2.93 to $ 3.58.
Toncoin confidently updated the maximums in the summer of 2024 in the wake of the popularity of TELEGRAM mini-applications released on the Ton blockchain. The historical maximum Ton was recorded on June 15 at $ 8.24.
However, in August, the coin exchange rate abruptly collapsed by almost 20% after the arrest of Pavel Durov at the Paris airport. And despite the fact that at the end of last year, in a wave of general growth of cryptocurrencies, Ton played the August fall, rising to $ 6.9, the course of the asset decreased the last three months.
On March 11, Ton updated the course of at least a year, falling by $ 2.38, for the first time since February 2024, according to CoinmarketCap. After the message of Durov left France, on the night of March 17, Toncoin updated a maximum of three weeks at $ 3.65.
Experts told “RBC-Crypto”, What are the prospects of Toncoin token, and what can affect its price in the near future.
“Investors do not burn with the desire to take risks”
Waiting for Toncoin returning to $ 6 in the coming months is too optimistic, says Roman Nekrasov, founder of Encry Foundation. According to him, the recent jump in the price of token is really connected with the fact that the French authorities unexpectedly allowed Pavel Durov to leave the country. But the criminal case is not closed against him, and this creates uncertainty, the expert warns.
In addition, nervousness now reigns in the crypto – the “fear and greed” index clearly shows that investors “are not burning with the desire to take risks,” Nekrasov noted. He added that the market mood is unlikely to change in the coming months, since the risks of the world trade war and the uncertainty around the US monetary policy force investors to look for assets that could be considered a “safe harbor”.
In addition, if you look wider, it becomes clear that last year’s excitement around Toncoin was largely held on blockchain games and memcoirs like Notcoin (Not) and Hamster Kombat (Hmstr), says Nekrasov. He drew attention to the fact that now interest in these projects faded and without a fresh reason to count on a sharp increase.
Most likely, in the coming weeks, the price of Toncoin is stabilized in the region of $ 4, for a new rally you need either a positive turn in market moods or a project that will give Ton a second wind was concluded by the analyst.
“Negative general mood”
In fact, the only reason for Ton’s growth in recent days is the sudden decision of the French authorities to allow Pavel Durov, the creator of the Telegram messenger, which is closely connected by the Toncoin ecosystem, to leave France, the head of Tehnobit agreed with the previous expert Alexander Perezycyan.
He noted that Pavel Durov is not directly controlled by Toncoin (Ton), but his influence on the project remains significant. It was repented that Ton was originally developed by Telegram as Telegram Open Network (Ton), but after the trial with the US Securities and Exchange Commission (SEC) in 2020, the company abandoned the project. Subsequently, the development of the network continued an independent community called The Open Network Foundation (Ton Foundation).
At the same time, Telegram actively integrates Ton into its ecosystem. At the end of January, Telegram and Ton Foundation agreed that the cryptocurrency services of the messenger would only work on the Ton blockchain.
According to it, it was rebuilt, in the coming weeks the Ton course can gain about $ 4. But in the medium -term perspective, the negative general mood of investors on the crypto river, where the “bears” now dominate, the analyst believes, may press the course.
He also pointed out that the main driving force for Ton last year was the excitement around the game memcoids, but now interest in such projects has noticeably faded. For a new jerk, the coin will require both a more favorable optimistic atmosphere in the market, and a new project or a niche of projects, which will use the Ton blockchain, is sure of the reproduce.
The price of Toncoin does not respond to all the news related to the messenger. So, at the end of 2024, Durov said that the year was very successful for Telegram, for the first time in the last three years the project was profitable. The Ton course against this news has not changed.
On March 17, Toncoin is trading about $ 3.42. Over the past 24 hours, it has risen in price by 0.2%. The market capitalization of the coin is $ 8.48 billion.
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Source: Cryptocurrency
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