Toncoin ($TON) and Resistance Dog ($REDO) are primed to explode if Telegram CEO Pavel Durov is released again after his surprise arrest in Paris on Saturday.
Durov faces alleged charges of “enabling fraud, drug trafficking, organised crime, promotion of terrorism and cyberbullying.” Authorities suggest Durov wasn’t doing enough to moderate user behaviour on the privacy-enabled messaging app, which played a central role in recent race riots across the UK.
The $13.75 billion market cap Toncoin ($TON) is the eleventh biggest cryptocurrency by market capitalization. It was originally part of Telegram, but spun out in 2020 after the US SEC said Telegram’s involvement in crypto may constitute a breach of federal securities laws.
$TON has followed market leader Bitcoin ($BTC) downward today.
Are The Open Network Coins About To Rally?
In the last 24 hours, Toncoin’s native $TON token shed 3.8% of its value to trade at $5.43 as of this writing. Its current price reflects a seven-day depreciation of 20.6%.
The over-a-trillion-dollar Bitcoin shed 2.4% of its value overnight, but actually grew 2.7% to its current price of $62,401.
Meanwhile, The Open Network’s biggest meme coin, Resistance Dog ($REDO) is now pumping after Ton developers changed their profile pictures to the meme coin avatar following Durov’s arrest. At its current price of $0.682, $REDO is now 98.5% more valuable than it was this time last Tuesday.
Should Durov get released, bot $REDO and $TON are likely to get a push, although it is not likely it will be enough to increase the assets’ values in the long-term.
Toncoin has failed to hold $7 from late July onwards. Recent crashes have bottomed the price just north of $5, and any positive news for the Telegram could see it getting a solid foothold on $7 and consolidating its price for some further gains.
A healthy relative strength index (RSI) of 48 and rising should head off any further price losses today.
While Toncoin ($TON) and Resistance Dog ($REDO) Await News, Crypto All-Stars Enjoys $800,500 Launch
TON is a pretty well-established layer 1 network with a rapidly growing community, making Toncoin’s $TON one of the best long bets in crypto.
On the other hand $REPO is a topical meme coin, which makes it less likely to follow the $44 billion meme coin sector on a good day.
Those looking for the catalytic gold rushes of early crypto prospecting should diversify their holdings with tokens from one of the innovative pre-sales that are quietly attracting millions.
One project pioneering a unified staking protocol for meme coin fans is Crypto All-Stars, represented by the $STARS token.
Crypto-All Stars is a revolutionary staking platform that brings together the most celebrated meme coins in one place.
Holders of Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin can stake them on the platform and earn passive income in the form of $STARS with a rewards rate currently set at 1,806%.
To that end, the team has allocated 20% of the tokens for its presale; the other 25% is for presale staking, 20% for marketing, 10% CEX/DEX listing, and the rest 25% for the MemeVault Ecosystem.
This new meme coin project has gained so much popularity that its presale has already raised $638,450 since its launch last week.
Following the purchase, you can begin staking for rewards and claim the tokens once the presale ends.
So, if you are a meme coin holder who wishes to put your money to work, Crypto All-Stars is a better option than SUn Wukong. Head to the website to buy $STARS with ETH, USDT, BNB, or even by card.
Follow them on social media – X (Twitter) | Telegram to stay up-to-date on all their development plans.
Join the Presale Here
The post Toncoin Community On Pavel Durov Arrest: $TON and $REDO Price To Explode If Released? appeared first on Cryptonews.
