Toncoin OI Surges 67% as Durov Leaves France

Toncoin (TON) Open Interest (OI) surged 67% in the past 24 hours, following reports that Telegram founder Pavel Durov has left France, where he had been required to stay since his August 2024 arrest.

According to CoinGlass data, Toncoin OI hit $169 million on March 15, marking its highest level since Feb. 1, when it stood at $171.49 million.

🔹 Toncoin price jumped 17%, now trading at $3.45, per CoinMarketCap
🔹 TON’s derivatives market is heating up, as traders react to news of Durov’s reported exit
🔹 The Open Network (TON) remains Telegram’s exclusive blockchain infrastructure

Toncoin’s Market Reaction & Potential Liquidations

Crypto analysts suggest TON is entering an accumulation phase.

“Toncoin is showing signs of a potential long-term accumulation phase as it stabilizes near key support levels,” wrote Crypto Billion on X (formerly Twitter).

However, if TON’s rally is short-lived, a drop back to $3 could trigger $18.8 million in long liquidations.

Durov’s Legal Battle & Toncoin’s Previous Surge

Durov was arrested in France in August 2024, accused of operating a platform enabling illicit transactions.

🔹 TON’s OI surged 32% following his arrest, while its price fell 12%
🔹 Reports suggest Durov has now traveled to Dubai, which has no extradition agreement with many countries
🔹 His case has raised concerns about a broader crackdown on privacy-focused services

Telegram’s Growing Commitment to TON

In January 2025, Telegram announced it would exclusively support The Open Network (TON) for its messenger services, further solidifying TON’s role in the platform’s crypto ecosystem.

With Durov’s departure from France, the market is closely watching whether Toncoin’s rally will sustain or face a correction.