Russian industry experts are warning that falling TON prices could have a significant impact on the entire crypto market in the short term. The CEO of BitRiver, Igor Runets, believes that a substantial drop in TON prices could lead to a temporary negative effect on the overall cryptocurrency market. This concern has been raised following the arrest of Pavel Durov, the co-founder of Telegram, in France, on charges related to child pornography, drug trafficking, and fraudulent transactions on the platform. This event has raised questions about internet freedom, data privacy, and the future development of the crypto market.
There is a growing uncertainty in the market, with some traders trying to manipulate profits based on major news developments and market sentiment. An analyst for the Telegram channel RynkiDengiVlast (RDV) mentioned that the uncertainty surrounding Durov’s arrest could pose risks for both TON and Telegram. The analyst explained that serious charges against Durov could potentially force him to make Telegram transparent to authorities or face many years in prison. Both scenarios could negatively impact TON and Telegram, leading to significant user loss and financial problems for the projects.
The arrest of Durov may also affect other projects such as Hamster Kombat, delaying token listings and potentially leading to a sell-off of tokens once listed. Some analysts believe that investors are leaving Toncoin for alternative cryptocurrencies, and there could be an outflow of capital from Telegram projects as well. Many feel that faith in the TON ecosystem largely depends on Durov’s personality, which could be a significant challenge if he faces prolonged legal issues. According to financial analysts, TON prices could fall to $4.60 following Durov’s arrest.
While TON prices initially dropped after news of Durov’s arrest, they later stabilized around $5.40. However, the uncertainty surrounding Durov’s fate means that TON could remain under pressure for an extended period. There are concerns that TON prices could drop further to key marks like $4, $3.50, and even lower if the situation worsens. Durov’s lawyer suggested that he was detained to obtain confidential information, and some countries like the United Arab Emirates have expressed interest in the case, adding to the complexity of the situation.
The French prosecution service has charged Durov with 12 offenses, putting him at risk of a lengthy prison sentence if convicted. Speculations about the motives behind Durov’s arrest have varied, with Russian media and politicians suggesting that it could be part of a larger geopolitical strategy against Russia. The uncertainties surrounding Durov’s future and the potential implications for TON and other related projects are causing concern in the crypto market, leading to cautious trading and heightened risk assessments among investors and traders.
