Toncoin Reaches $13.96B Market Cap Amid CEO Pavel Durov's Arrest and Market Turbulence

Toncoin, a cryptocurrency within The Open Network ($TON) ecosystem, has reached a market capitalization of $13.96 billion and 1.1 million daily active users. This achievement was overshadowed by the arrest of Telegram CEO Pavel Durov, which led to a significant drop in Toncoin's price by 25% to $5.24. The arrest occurred shortly after Durov's plane landed at Le Bourget airport outside Paris. Despite the market turmoil, data suggests that Toncoin might rebound, as it still shows strong support from whale investors within the ecosystem. French President Emmanuel Macron clarified that he was not aware of Durov's visit to France, and Durov is now facing legal proceedings while on bail.