{"id":125166,"date":"2025-03-16T07:20:12","date_gmt":"2025-03-16T07:20:12","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125166"},"modified":"2025-03-16T07:20:12","modified_gmt":"2025-03-16T07:20:12","slug":"toncoin-open-interest-soars-67-as-pavel-durov-departs-france","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125166","title":{"rendered":"Toncoin open interest soars 67% as Pavel Durov departs France"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsToncoin Open Interest (OI) has jumped 67% over the past 24 hours amid reports of Telegram founder Pavel Durov\u2019s departure from France, where he had been required to stay since his arrest six months ago.<br \/>\nOn March 15, Toncoin (TON) OI\u00a0 \u2014 a metric tracking the total number of unsettled Toncoin derivative contracts such as options and futures \u2014\u00a0 reached $169 million, representing a 67% increase from the previous day when the reports of Durov\u2019s departure first surfaced, according to CoinGlass data.<br \/>\nToncoin open interest reaches highest level in 42 days<br \/>\nIt is the highest level of OI in Toncoin since Feb. 1, when it was sitting at $171.49 million.<br \/>\nTON is The Open Network\u2019s native cryptocurrency and is the exclusive blockchain infrastructure for Telegram\u2019s Mini App ecosystem.<br \/>\nToncoin open interest surged 67% on March 15. Source: CoinGlassTON\u2019s price jumped 17% over the same 24-hour period, trading at $3.45 at the time of publication, according to CoinMarketCap data.<br \/>\nTrading resource account Crypto Billion said in a March 15 X post that Toncoin is \u201cshowing signs of a potential long-term accumulation phase as it stabilizes near key support levels.\u201d<br \/>\nHowever, if this rally is short-lived, around $18.8 million in long positions could be liquidated if TON\u2019s price falls back toward the $3 level it was trading at on March 14.<br \/>\nToncoin open interest also surged after arrest in 2024<br \/>\nThe court reportedly allowed Durov to travel to Dubai, a city with no extradition agreements with many countries.<br \/>\nThe market\u2019s reaction hints at the potential significance of this case for the crypto industry. Many are worried that Durov\u2019s arrest in August 2024 in France could set a precedent for cracking down on other privacy-focused services. He was accused of running a platform that enables illicit transactions.<br \/>\nRelated: Bitget predicts TON \u2018de-Telegramization\u2019 in the next 2 year<br \/>\nSimilarly, when Durov was arrested in August 2024, TON\u2019s OI also surged.\u00a0<br \/>\nFollowing the news of Durov\u2019s arrest on Aug. 24, 2024, TON\u2019s OI spiked 32% over the following 24 hours, alongside its price falling almost 12%.<br \/>\nOn Jan. 21, Telegram announced it would cease support for all blockchains other than The Open Network for its messenger services.<br \/>\nMagazine: Vitalik on AI apocalypse, LA Times both-sides KKK, LLM grooming: AI Eye<a href=\"https:\/\/cointelegraph.com\/news\/toncoin-open-interest-surgest-telegram-founder-pavel-durov?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsToncoin Open Interest (OI) has jumped 67% over the past 24 hours amid reports of Telegram founder Pavel Durov\u2019s departure from France, where he had been required to&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125166"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125166"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125166\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125166"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125166"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125166"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}