Ton coin, a crypto currency closely linked to the popular messaging app Telegram, has managed to defy a broader market downturn, with its price rising by over 4% in the past 24 hours. This spike comes in the wake of Telegram founder Pavel Durov’s public response to his arrest in France. While major assets like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) experienced losses, Ton coin’s resilience has caught the attention of crypto enthusiasts.

According to Crypto Slate data, Ton coin surged to a high of $5 before settling at around $4.77 at press time. Meanwhile, leading crypto currencies like BTC, ETH, and BNB all saw losses exceeding 2% over the same period, further emphasizing Ton coin’s unusual strength.

Durov’s Response to Arrest

On September 5, Pavel Durov addressed his arrest via his Telegram channel, expressing shock over the actions taken by French authorities. Durov, who regularly visits the French Consulate in Dubai and has legal representation in the European Union, seemed perplexed by the arrest, indicating that authorities had multiple avenues to contact him.

In his statement, Durov reassured Telegram users and investors, highlighting that the platform continues to comply with European regulations and has designated representatives to handle any legal matters in the region.

Ton coin’s Performance Amid Broader Market Decline

Ton coin’s rise in value, despite the arrest of Telegram’s founder, is note worthy in a market where other major digital assets are facing down ward pressure. The broader crypto market, including giants like Bitcoin and Ethereum, has struggled amid concerns over regulatory crackdowns, a slow recovery from recent price dips, and ongoing global economic challenges.

However, despite the recent gains, Into The Block data shows that most Ton coin holders are still facing losses. Of the 43 million Ton coin addresses, around 80% are currently “out of the money,” meaning they are holding Ton coin at a loss. On the other hand, 9.3% of holders, or approximately 5 million addresses, are in a profit position.

What’s Driving Ton coin’s Resilience?

Several factors may be contributing to Ton coin’s ability to buck the market trend. For one, the arrest and subsequent public response by Pavel Durov have thrust the project into the spotlight, bringing renewed attention to the asset. Durov’s status as a high-profile tech entrepreneur and his connection to the privacy-focused messaging app Telegram may be encouraging investor confidence, despite short-term market volatility.

Additionally, Telegram has quietly updated its content policies, signaling a potential shift that could impact how the platform handles user data and regulatory compliance, which in turn could influence Ton coin’s future prospects.

Conclusion

Ton coin’s rise in value, even amid its founder’s arrest and a declining crypto market, demonstrates its unique position and resilience within the digital asset space. While most holders remain “out of the money,” the token’s recent performance has caught the attention of both investors and market analysts. With Pavel Durov continuing to engage with regulatory matters and maintain a presence in the public eye, Ton coin may continue to experience both volatility and opportunity in the coming weeks.