Telegram’s Policy Shift and Toncoin’s Market Dynamics
Telegram implements stricter content moderation policies following CEO Pavel Durov's arrest in France, while Toncoin, its associated crypto
Telegram implements stricter content moderation policies following CEO Pavel Durov’s arrest in France, while its associated cryptocurrency Toncoin (TON) faces market challenges. Meanwhile, Tether’s USDT sees significant growth on the TON blockchain, highlighting the complex interplay between messaging platforms, cryptocurrencies, and regulatory pressures.
Telegram Revamps Moderation Rules Following CEO’s Arrest
In a significant policy shift, Telegram has extended its moderation reach to include private chats. This change comes in the wake of CEO Pavel Durov’s arrest in France, where he was charged with allegedly failing to police illegal content on the platform.
Key Points:
- Users can now flag illegal content in private chats for review
- The policy change was quietly announced on Telegram’s FAQ page
- Durov acknowledged the platform’s growth has made it easier for criminals to abuse it
Durov Breaks Silence Post-Arrest
Pavel Durov, Telegram’s founder, has finally addressed the public since his arrest in France last month. In his message, Durov expressed surprise at the arrest, citing Telegram’s legal representation in France. He also asserted the company’s readiness to exit markets incompatible with its principles of free speech.
Durov’s Statement Highlights:
- Claimed multiple avenues existed for French authorities to reach him without arrest
- Criticized France’s decision to charge him personally rather than the company
- Reaffirmed Telegram’s commitment to free speech and expression
French President Macron Denies Political Motivation
French President Emmanuel Macron issued a statement denying that Durov’s arrest was politically motivated. However, this did little to quell international criticism of France’s actions, which many view as suppression of free speech.
USDT’s Growth on TON Blockchain
Tether’s USDT stablecoin has seen remarkable growth on the TON blockchain, reaching over one million addresses in less than six months. This growth is largely attributed to Telegram’s integration of the TON blockchain, enabling its 950 million users to access USDT for transactions.
USDT on TON:
- Supply has reached $730 million
- 1.39 million addresses hold USDT on the network
- Weekly transaction volumes nearing $2.4 billion
Toncoin’s Market Struggles
Despite USDT’s success, Toncoin (TON), the native token of the TON blockchain, has been facing challenges. The token’s price has seen significant declines, particularly after Durov’s arrest.
Toncoin Market Analysis:
- Currently trading at $4.8
- 10% drop in the last seven days
- 35% decline over the past three months
- 85.99% of holders are currently at a loss
New Holders Could Potentially Stabilize Toncoin
Despite the recent price crash, there’s a surge in new Toncoin holders, which could potentially stabilize the price.
Key Observations:
- Short-term holders increased from 23% to 33%
- MVRV ratio at -17%, indicating a potential buying opportunity
- Price could potentially bounce to $5.00, but a drop to $3.55 remains a realistic possibility
This complex situation highlights the interplay between regulatory actions, platform policies, and cryptocurrency market dynamics, showcasing the volatile nature of the digital asset ecosystem.
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