Toncoin's open interest (OI) jumped 67% on March 15, 2025, hitting $169 million after reports emerged that Telegram founder Pavel Durov left France.
Toncoin's open interest (OI) jumped 67% on March 15, 2025, hitting $169 million after reports emerged that Telegram founder Pavel Durov left France. Durov had been under restriction in France since his arrest in August 2024. The OI increase was the highest recorded since Feb. 1, when it stood at $171.49 million. During the same period, Toncoin's price rose 17%, reaching $3.45.
The market reaction to Durov's departure has sparked speculation about the future of Toncoin and its potential impact on the wider cryptocurrency ecosystem. Toncoin is the native cryptocurrency of The Open Network, which underpins Telegram’s Mini App ecosystem. Analysts have pointed to signs that Toncoin may be entering a phase of long-term accumulation, though there are concerns about possible volatility. If the price were to drop to around $3 again, around $18.8 million in long positions could be liquidated, highlighting the uncertain nature of the rally.
The reason behind Durov's departure lies in his ongoing legal issues in France. The Telegram CEO’s arrest last year on allegations that the platform facilitated illicit activities sparked fears of increased regulation for privacy-focused services. He was allowed to leave France after French authorities returned his passport. Durov’s exit coincides with increased scrutiny of the crypto industry and discussions over the regulation of platforms like Telegram.
The surge in Toncoin's OI is similar to the one seen following Durov's arrest last August when the OI spiked by 32% in the days after the news broke. However, Toncoin's price fell nearly 12% during that time. In the wake of his departure, there has been renewed focus on the role of Telegram in the crypto space, with many watching how the platform adapts to regulatory challenges.
Furthermore, Telegram has been cooperating more with U.S. authorities, fulfilling 900 requests for user data in 2024, a significant increase following Durov's arrest. Telegram has provided authorities with user information like IP addresses and phone numbers for several requests.
Meanwhile, Telegram has been reasserting its commitment to the TON ecosystem, with the company announcing in January 2025 that it would no longer support any blockchains other than The Open Network. The shift aims to strengthen the integration of Toncoin with Telegram’s services, underscoring the long-term strategic focus on the TON blockchain.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
