With Telegram's massive user base, TON has rapidly gained traction. Its 100k TPS speed and Tap-to-Earn memecoins have contributed to a market cap of nearly 20B USD
[1]. Once considered a formidable competitor to Solana, Avalanche, BNB Chain, and Ethereum, TON's ecosystem has flourished.
Telegram's global operations may be jeopardized following the arrest of its CEO, Pavel Durov, in France on multiple charges of serious criminal activity. The potential for increased censorship efforts by other governments poses a significant threat to the app's future
[2].
Investor sentiment toward the Ton blockchain took a hit as several tokens experienced price drops. TON, for instance, fell from 7 USD to 5 USD, and NOT from 0.012 USD to 0.008 USD, causing concern among those who had invested in Ton ecosystem tokens.
Conversely, the Telegram community is rallying behind their CEO, further elevating their esteem for Telegram and Ton due to their decentralized and unregulated nature. This could potentially fuel a surge in the value of Ton ecosystem tokens.
As the market swings, the pessimists will flee in terror, while the optimists will seize the moment to accumulate. But I'm a spectator, watching the drama unfold, hoping that Telegram's future remains bright.
I want to know your opinion on this issue:
- Are you holding any tokens in the Ton ecosystem?
- Did this news make you worry about the future of the Ton blockchain?
- What was your action upon receiving this news: sell/hold/buy tokens?
References:[1]
Coinmarketcap: Toncoin Ecosystem Tokens[2]
French authorities can hold Pavel Durov until Aug. 28