Investors have sold over 890,000 TON since Durov’s arrest.
During this time, TON price has plummeted by 30%, with its market capitalization shrinking by 29%.
Despite the downturn, accumulation indicators show rising investor interest since November.
Since the arrest of Telegram founder in France on August 24, 2024, Toncoin has faced major turbulence in its value. On-chain from Santiment reveals that over 890,000 Toncoin have been sold by investors following Durov’s detainment. Just before his arrest, the token was trading at around $6.8, but a six-month period of declining prices has led to a notable 30% drop in its value and a 29% decrease in market capitalization.
Currently, Toncoin, ranked as the 14th largest cryptocurrency, is trading at around $4.80 with a market capitalization of $12.06 billion. It is interesting to note that despite the prolonged sell-off, the accumulation/distribution indicator hints that the accumulation of the token has been steadily rising since early November, soon after Donald Trump’s election win was confirmed.
Legal Troubles for Telegram’s Founder
The arrest of Durov in August marked a major turning point for Toncoin. French authorities detained the Russian-born billionaire at Le Bourget airport near Paris shortly after his private jet landed from Azerbaijan. Durov faced of ‘s involvement in facilitating illegal activities, including the distribution of child sexual abuse material and drug trafficking.
Although Durov was released from police custody, he is still under formal investigation and is barred from leaving French territory. Notably, the arrest did not completely dampen Toncoin’s annual performance. Despite recent setbacks, the token has still managed to maintain a 128% yearly gain.
Toncoin (TON) Price Analysis Suggests Key Turning Points
On the technical front, Toncoin’s 4-hour chart presents a descending trend characterized by lower highs and lower lows. TON price appears to be stabilizing near the $4.82 level, which has emerged as a crucial support zone.
A bullish divergence might form if the price holds above the support level. A move above $4.90 and a sustained breakout beyond $5.00 could trigger further upside toward $5.30. If this support zone holds, a possible “double-bottom” pattern could develop, signaling a reversal to the upside.
However, a clear close below $4.80 with high selling volume could lead to a deeper retracement toward the $4.60 region or to the $4.00 psychological mark — a level the token has never tested.
Meanwhile, on the daily chart, Toncoin has been consistently holding near the lower Bollinger Band since early January 2025. This suggests that the token may be oversold, hinting at buying opportunities. However, the downward movement of the lower Bollinger Band signals a persistent bearish trend, warning traders against premature long positions.
