Telegram One Network (TON) blockchain crypto coin TON has declined 15% in the last 7 days and touched a 5-month low after the arrest of Telegram's CEO Pavel Durov. Ton market cap has also dropped and comes to 11.81B.
On 5 Sep the ton price was $4.66 and is low by 43% from its ATH $8.26.
Here is the main reason for the fall in Ton Coin:
1. Telegram CEO Arrest: The arrest of Pavel Durov, the CEO of Telegram, in France, led to a significant drop in TON's price. While Telegram and TON are separate entities, the association between the two had a notable impact on investor sentiment.
2. Network Issues: TON has faced technical challenges, including network outages and scaling issues. These disruptions can erode investor confidence and lead to sell-offs.
3. Market Sentiment: The broader cryptocurrency market is influenced by various factors, including economic conditions, geopolitical events, and investor sentiment. A downturn in the overall market can negatively impact the price of TON.
4. Bearish Market: The current crypto market is also bearish and major digital currencies like Bitcoin, ETH, Solan, and others have also fallen in the last few days. As per the fear data index holders take back their money in fear.
Ton coin is low but still, their daily active user wallet address increased by 5% with 3.19 million unique active wallets. If you want you can hold these tokens for the long term as Telegram is a stable social platform with a large number of active users.
It's important to note that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. Factors like news, technical developments, and market sentiment can all contribute to price movements.