TON Price Prediction: What's Next After the Arrest of Founder Pavel Durov?

The TON price lost its $5-$5.30 level during this week but never managed to get back. According to CoinGecko, the TON price fell from $5.33 (highest point) to $4.55 (lowest point). At the time of writing, the coin has corrected slightly to $4.73.

The TON price has not been able to regain its $5-$5.30 level this week.

According to CoinGecko data, the TON price has dropped from a high of $5.33 to a low of $4.55. At the time of writing, the coin has recovered slightly to trade at $4.73.

CoinGecko tracks the TON price for the last 7 days

Rising TON Daily Active Users

The TON blockchain remains popular. Following the recent arrest and subsequent release of founder Pavel Durov, several crypto projects continue to operate on the network.

According to Token Terminal, TON's daily active users increased by 48.5%. For the month, the blockchain entered the top 5 and ranked 3rd, with an addition of 6.25 million, up 26.4%.

Ranking of blockchains by growth in active users

Meanwhile, TON Total Value Locked Drops by Almost 50%

Following the arrest of Pavel Durov, the Total Value Locked (TVL) on TON has seen a significant decline. According to DeFiLlama, the blockchain's TVL has dropped by 46.21% in one month.

This marks the worst performance among other chains in decentralized finance (DeFi). In second place in this anti-rating is Bitcoin, which lost 25.12% of TVL in the last 30 days.

Chain ranking by TVL

What's Next for TON Price

On Sep. 4, a crypto trader known as Ali on X (formerly Twitter) noted that Toncoin needs to hold the $4.70 level. However, if TON crashes below that, there could be a deep correction to the $2.63 level, about a 45% drop.

#Toncoin needs to reclaim the $4.70 support level soon. If $TON fails to do so, a 45% correction down to $2.60 could be likely. pic.twitter.com/Jv0V47sXjQ

— Ali (@ali_charts) September 4, 2024

Another trader, Crypto Tony, also expects two scenarios to play out, either rising to the $5.12 level or falling below $4.40.

$TON / $USD – Update A reclaim of $5.12 or the sweep of the lows is what i am looking for at this point for a position pic.twitter.com/WTCeQPFpnc

— Crypto Tony (@CryptoTony__) September 6, 2024

Also, according to CoinGecko, TON meme coins have shown a drop last week. Among them, Dogs (DOGS) recently started trading on crypto exchanges and became the largest coin in this ranking, with a market capitalization of $487 million.

DOGS lost 23.2% during the week. Resistance Dog (REDO) is in second place by market capitalization among TON meme coins and fell by 17.7%.

Ton Cat (TCAT) is in third place and lost 16.1% for the week, while the monthly ratio is 54.3%.

Ton meme coins by market capitalization on CoinGecko

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