Toncoin Open Curiosity (OI) has jumped 67% over the previous 24 hours amid reviews of Telegram founder Pavel Durov’s departure from France, the place he had been required to remain since his arrest six months in the past.
On March 15, Toncoin (TON) OI — a metric monitoring the full variety of unsettled Toncoin spinoff contracts equivalent to choices and futures — reached $169 million, representing a 67% enhance from the day past when the reports of Durov’s departure first surfaced, according to CoinGlass knowledge.
Toncoin open curiosity reaches highest degree in 42 days
It’s the highest degree of OI in Toncoin since Feb. 1, when it was sitting at $171.49 million.
TON is The Open Community’s native cryptocurrency and is the unique blockchain infrastructure for Telegram’s Mini App ecosystem.
Toncoin open curiosity surged 67% on March 15. Supply: CoinGlass
TON’s value jumped 17% over the identical 24-hour interval, buying and selling at $3.45 on the time of publication, according to CoinMarketCap knowledge.
Buying and selling useful resource account Crypto Billion said in a March 15 X submit that Toncoin is “exhibiting indicators of a possible long-term accumulation part because it stabilizes close to key assist ranges.”
Nonetheless, if this rally is short-lived, round $18.8 million in lengthy positions might be liquidated if TON’s value falls again towards the $3 degree it was buying and selling at on March 14.
Toncoin open curiosity additionally surged after arrest in 2024
The court docket reportedly allowed Durov to travel to Dubai, a metropolis with no extradition agreements with many international locations.
The market’s response hints on the potential significance of this case for the crypto business. Many are frightened that Durov’s arrest in August 2024 in France might set a precedent for cracking down on different privacy-focused companies. He was accused of working a platform that permits illicit transactions.
Associated: Bitget predicts TON ‘de-Telegramization’ in the next 2 year
Equally, when Durov was arrested in August 2024, TON’s OI additionally surged.
Following the information of Durov’s arrest on Aug. 24, 2024, TON’s OI spiked 32% over the next 24 hours, alongside its value falling nearly 12%.
On Jan. 21, Telegram introduced it will cease support for all blockchains other than The Open Community for its messenger companies.
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