Following the news on March 15 that Telegram founder Pavel Durov regained access to his passport from French authorities, the Telegram-associated cryptocurrency Toncoin (TON) has been on an upward trajectory, rising over 30% and currently priced at around $3.55.

"$TON Gearing Up for a 100% Rally?"
I see Toncoin rebounding strongly from the $2.40-$3.00 support zone, a key historical level. A breakout above the falling wedge’s upper trendline could lift $TON to $5-$6 by mid-2025. — Tom Tucker (@WhatzTheTicker)

Durov quickly left France on a private jet to Dubai where he now feels secure. As his freedom has restored, Toncoin’s price has also surged, bouncing back from its previous struggle to break past resistance levels. Consequently, Toncoin has achieved a market cap exceeding $8.7 billion with a circulating valuation over $18 billion.

The recent events have rejuvenated investor sentiment regarding the Telegram-linked cryptocurrency, reflecting in increased trading volume. Initially struggling to surpass $200 million in daily trading activity, Toncoin has now exceeded $1.4 billion in volume, displaying an impressive average of over $460 million per day since Durov’s release.

With a warming market and encouragement from global pro-crypto policies, many are optimistic about the future trajectory of both Toncoin and the Telegram ecosystem that Durov oversees.