The TON TON/USD token has witnessed a significant surge in value, following the recovery of Telegram founder Pavel Durov‘s passport from French authorities.
What Happened: The price of TON has escalated by over 20%, trading above $3.45 and boasting a market capitalization of $8.14 billion. This price hike coincides with the return of Durov’s passport by French authorities.
The TON Foundation, the organization supporting the Telegram Open Network (TON), voiced its support for Durov on social media. The foundation commended Durov’s steadfast commitment to upholding online free speech and privacy rights.
The value of TON has also been positively influenced by the introduction of new features to the Wallet app on Telegram. These enhancements include multiple assets, a yield program, an updated user interface, and more.
Also Read: Telegram-Related TON Crypto Secures $20 Million Raise From Pantera Capital
Why It Matters: The return of Durov’s passport and the subsequent rise in TON’s value underscore the influence of Durov’s leadership on the cryptocurrency’s market performance.
His commitment to privacy and free speech, as well as the introduction of new features to the Wallet app, have bolstered investor confidence, leading to a surge in TON’s market capitalization.
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