Toncoin surges after Durov’s release, hits $3.66
The Most Important Points at a Glance
Toncoin (TON) experienced a significant price surge following the release of Telegram founder Pavel Durov. After reaching a temporary high of $3.66, the price has now settled at $3.41. Despite a slowdown in momentum, on-chain data suggests that the market structure remains stable.
Toncoin: Price Surge After Durov’s Return
Pavel Durov, founder of Telegram, recently received court approval to leave France, where he had been held since August last year. His return to Dubai led to a sharp increase in Toncoin’s price, which surged from $2.59 to $3.66 within a few days – a gain of over 40%.
Currently, the price has corrected to $3.41, reflecting a 1.25% decline in the last 24 hours. The Relative Strength Index (RSI) stands at 53.31, indicating decreasing buying pressure.
On-Chain Data Still Shows Strength
Despite the price correction, TON’s fundamental outlook remains positive. According to data from IntoTheBlock, 73.82% of the tokens are “in the money,” meaning that most investors acquired their tokens at a lower price. Only 12.25% of addresses are currently “out of the money,” suggesting low selling pressure.
The Network Value to Transactions (NVT) indicator shows that the recent price surge was supported by rising transaction volume. A decline in the NVT ratio in the first half of March indicates that Toncoin was previously undervalued.
Will the Uptrend Continue?
According to DeFiLlama, Toncoin’s Total Value Locked (TVL) increased from $140 million to $170 million between March 15 and 17. This signals growing investor confidence.
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Additionally, data from Santiment shows an increase in transactions by large investors (so-called “whale transactions”) as well as high social activity surrounding Toncoin. These factors suggest continued interest in the token.
Short-term pullbacks are possible, but as long as trading volume remains high and market conditions stay stable, the uptrend could continue.
Our Assessment
Toncoin has shown strong price movement following Pavel Durov’s release. While the initial euphoria is fading, the fundamental data remains positive. The high number of profitable addresses, increasing transaction volumes, and growing TVL indicate that TON still has potential. The key question is whether buying interest will persist or if the token will enter a consolidation phase.
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