On a day when most crypto assets traded steadily, Toncoin astonished with a sharp price rise.
Toncoin's Sudden Price Surge
On Saturday, Toncoin's price soared by 20%, reaching a 12-day peak of $3.5. Such a sharp price movement surprised most market participants.
Durov's Passport Return
The catalyst for this price surge was the TON Foundation's announcement that French authorities had returned Pavel Durov's passport. This followed the last summer's events where Telegram's founder was arrested on suspicions related to the app's operation.
Market Reaction and Price Movement
This news immediately affected Toncoin's value, with the price skyrocketing by 20%. It broke the $3 resistance and reached up to $3.5 before correcting.
Recent events have demonstrated how external factors can swiftly impact cryptocurrency values. Durov's passport return was a growth signal for Toncoin amid a positive market response.
