Following Telegram founder Pavel Durov’s arrest, Toncoin (TON) faces uncertainty. The price fell from $6.8 to $5.3 on August 25, briefly hitting $5.1 on August 27, and has since recovered to around $5.43. This decline contributes to a 22% weekly drop. Despite this, the TON network continues to function normally, producing blocks as usual.

Open Interest in TON has surged 80% from $200 million to $360 million, indicating increased speculative activity. The asset had seen significant growth earlier this year, with rising active addresses and venture capital interest due to its association with Telegram. Additionally, whales have been accumulating TON despite the market downturn.