Toncoin Paring Off Weekly Losses Amid Support For Telegram Founder

Amid the uncertainty surrounding Pavel Durov's arrest in France a few days ago, TON notably suffered the most. The coin has fallen by more than 18.58% in the past week, dropping as low as $5.09.

Toncoin (TON) price rebounded after the Telegram ecosystem came together to support Telegram founder Pavel Durov. Following two major updates from the case today, Toncoin investors went on a buying spree to push the price up.

Toncoin Makes Up for Weekly Losses with Support for Telegram Founder

While the uncertainties regarding the arrest of Pavel Durov in France a few days ago continued, TON was the one who suffered the most. The coin lost more than 18.58% in value last week and fell as low as $5.09.

The coin is now gaining attention as it rallies the community by supporting a petition for the release of the Telegram founder. The "Free Durov and Defend Free Speech" movement, which has a target of 5 million signatures to reach the next milestone, has received 1,189,070 signatures so far. This show of solidarity is crucial for the digital currency that powers the broader Telegram ecosystem.

Durov's arrest led to different reactions in the community. While retail investors bear more of the brunt of this uncertainty, TON whales are betting more optimistically. As previously reported, increasing bets by TON whales indicate that the price may soon return to ATH (All Time High) despite the uncertainties.

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