Toncoin (TON) Price Crashed by Double-Digit as Pavel Durov, Telegram CEO, Was Arrested in France

French authorities accuse Telegram of facilitating crimes such as terrorism, narcotics trafficking, and fraud, among others. On-chain shows TON's Exchange floor balance shows a positive spike, suggesting selling pressure from investors.

French authorities have arrested Telegram CEO Pavel Durov at a Paris airport, according to several reports. French media report that Telegram CEO Pavel Durov was arrested in France over his alleged failure to moderate content on the popular messaging platform. French authorities have arrested Telegram CEO Pavel Durov at a Paris airport over his alleged failure to moderate content on the popular messaging platform, according to several reports. The arrest comes amid a complaint into Telegram's lack of moderation and cooperation with law enforcement. French authorities accuse Telegram of facilitating crimes such as terrorism, narcotics trafficking, and fraud, among others. On-chain data shows a positive spike in TON's Exchange floor balance, indicating selling pressure from investors.

Toncoin price plunged 14% in two days, reaching a low of $5.23 on Sunday. As of Monday, it trades at around $5.73.

In Toncoin's case, the Exchange Flow balance spiked from -111,280 to 251,220 from Friday to Sunday. This positive uptick indicates increasing selling pressure from investors. During this event, the TON Supply on Exchanges rose by 8%. This is a bearish development, as investors send their TON tokens from their wallets to exchanges, increasing selling pressure and declining the Toncoin price.

The above is the detailed content of Toncoin (TON) Price Crashed by Double-Digit as Pavel Durov, Telegram CEO, Was Arrested in France. For more information, please follow other related articles on the PHP Chinese website!