Date: Sun, August 25, 2024, 01:28 AM GMT
In the cryptocurrency market, things can change overnight, and the fall of Toncoin and Notcoin is a perfect example of that. Within the last 24 hours, Toncoin has dropped by a staggering 15.52%, while Notcoin has suffered an even steeper fall of 16.63%.
In the unpredictable world of cryptocurrency, fortunes can change overnight. This has been starkly illustrated by the recent sharp declines in Toncoin and Notcoin. Within the last 24 hours, Toncoin has dropped by a staggering 14.82%, while Notcoin has suffered an even steeper fall of 17.40%.
Telegram Founder’s Arrest:
The cause of this sudden downturn can be traced back to a shocking news involving Telegram’s founder, Pavel Durov. Around 8 PM yesterday, Durov was arrested at Le Bourget airport as he arrived in France on his private jet, accompanied by his bodyguard and a woman. The arrest was carried out by the Air Transport Gendarmerie (GTA) under a French search warrant issued by the OFMIN of the national directorate of the French judicial police.
This warrant is part of an ongoing investigation into Durov’s alleged involvement in serious criminal activities linked to Telegram. The accusations are grave, ranging from terrorism and narcotics trafficking to fraud and the distribution of illegal content, including material related to child exploitation.
As both Toncoin and Notcoin are projects closely associated with Durov and Telegram, news of his arrest has sent shockwaves through the market. Panicked investors have responded by selling off their holdings, leading to the steep price drops observed.
Liquidations:
The impact of Durov’s arrest has also been felt in the derivatives market. According to data from Coinglass, Toncoin derivative investors lost a total of $3.96 million, with $2.45 million liquidated in long orders. Notcoin investors saw similar losses, with $3.41 million in liquidations, of which $2.27 million were long orders.
What’s Ahead?
At this point, it’s difficult to predict what lies ahead for Toncoin and Notcoin. Investors should closely monitor any further developments from the French authorities regarding Pavel Durov. The damage from this news is already significant, and prices may remain volatile until more information is released.