With a daily gain of 0.3% and a weekly loss of 11.06%, the Notcoin token is currently trading at $0.01.

Last Saturday night, Pavel Durov, the founder of Telegram, was arrested in France. This arrest has been quite mediatic, but most of all it has affected those cryptocurrencies that are related to Telegram.

In general, cryptocurrencies that are related to Telegram have presented a sharp decline. In particular, the price of Toncoin and Notcoin fell immediately after the news was released.

It is precisely because Telegram is the platform used to interact with such projects that this affectation product of such an arrest occurs. So Durov’s arrest and the motives behind it created the FUD capable of sending prices to such levels.

On the other hand, TON, Notcoin’s blockchain, was originally developed by Telegram and launched independently. So, the real risk would be in the relationship of this project with Telegram, which would not affect the TON blockchain.

The timing of this setback, as the game has already accumulated 35 million users in just 5 months, is also worth mentioning.

Another point of note is that the arrest is part of an extensive police investigation into the “lack of moderation” on the messaging platform, which allegedly allows the proliferation of criminal activity.

As such, the price continues to see a large wave of unrelenting selling, with early investors taking advantage of the situation and causing the large drop in NOT.

Analysis of NOT Price Charts

The first thing that stands out on the NOT charts is the steep drop from $0.0122 to $0.0089. However, on August 5th, the price had already seen a similar drop when it fell to $0.00855.

The recent chart action has left room for the formation of the so-called “Bart Simpson” pattern, which is usually preceded by a period of neutrality, and this could be the price’s next move.

Speaking of resistances, the first hurdle for the price would be to regain the 20 EMA or the $0.010 level, which would pause the bearish forces. After that, the price needs to regain the 50 EMA or the $0.0105 level, which would reverse most of the decline.

The final resistance we can talk about is $0.0122, which would resume the uptrend from where the price fell. However, another fact that could be more important is that the price has recently corrected from this level, so it could be a double top.

On the support side, the price has what appears to be a strong buy zone between 0.00895 and 0.00853, which is quite solid support. However, if this is lost, we would be looking for bottoms around 0.0072 USD.

Another important fact on the chart is that the 20 EMA has crossed to the downside, a sign of bearish strength. However, the RSI at 42 indicates that the price is slightly oversold and a rebound may be imminent.

What to Expect Next for Notcoin and for Pavel Durov?

Pavel Durov would be at risk of being charged with the above crimes as the investigation against him unfolds. Some experts believe that the French justice system will act quickly.

This development could bring transparency to Telegram’s practices in other regions, such as Russia and Ukraine, beyond the reasons for Durov’s arrest and the charges against him.

Nevertheless, and despite how complex this case could become, it does not seem to have an effect on the overall cryptocurrency market, which has remained stable in the current trading day, with the price of BTC currently reaching almost $64,000.

NOT investors suffered a loss of $3.40 million when liquidating their positions. 2.27 million were long orders.

By Leonardo Perez

The digital communications landscape and cryptocurrency ecosystem have been shaken​ by the arrest​ оf Pavel Durov, CEO and founder​ оf Telegram.

Durov was arrested​ as part​ оf​ a preliminary investigation into the lack​ оf moderation​ оn the Telegram messaging platform​ at Bourget airport near Paris, according​ tо various reports.

The arrest comes​ as the lack​ оf moderators​ оn Telegram has allowed criminal activity​ tо proliferate​ оn the platform, according​ tо several media outlets, including TF1, BFM​ TV and SCMP. The situation​ іs further complicated​ by the fact that Telegram has been​ a stronghold​ оf communication during conflicts such​ as the war between Russia and Ukraine, where​ іt has been used​ by both the Ukrainian government and the Kremlin​ tо spread information, the SCMP reported.

Durov​ іs​ a Russian-born entrepreneur who has defended Telegram’s neutrality, and​ іn the past has expressed concern about the pressure some governments have put​ оn the platform. Durov has maintained​ a strong stance​ іn favor​ оf freedom​ оf expression and user privacy since leaving Russia​ іn 2014.

TON Speaks Out​ оn Pavel Durov’s Arrest

In the midst​ оf the controversy, The Open Network (TON), the blockchain associated with Telegram, has issued​ a statement​ іn support​ оf Durov and his vision for​ a decentralized platform.

“As​ a community committed​ tо free speech and decentralization,​ we strongly support Pavel during these difficult times. Pavel has been​ a dedicated advocate for these values, and​ we believe his efforts​ tо promote​ an open and decentralized Internet will continue​ tо inspire millions​ оf people,” the network said.

TON​ іs​ a blockchain designed​ tо facilitate the adoption​ оf Web3​ by providing solutions that allow users​ tо interact securely and uncensored. The technology behind this blockchain, originally developed​ by Telegram, aims​ tо empower users​ by providing them with the ability​ tо conduct transactions and communicate without interference from central authorities.

TON’s support​ оf Durov​ іs significant,​ as the blockchain​ іs​ a key component​ оf Telegram’s strategy​ tо remain relevant​ іn​ an increasingly digital world. Connecting TON and Telegram, which now boasts more than 900 million active users, not only reinforces Durov’s mission​ tо create​ a safe space for free expression, but highlights the importance​ оf decentralization.

Crypto Community Support

Alongside TON, the entire crypto community has responded with strong support for Durov, highlighting the importance​ оf his role​ іn promoting privacy and freedom​ оf communication. Since its inception, Telegram has been​ an ally​ оf cryptocurrencies.​ It provides​ a space where blockchain projects can communicate and grow.

The community has expressed concern about the implications​ оf Durov’s arrest. They argue that​ іt could set​ a dangerous precedent for industry leaders looking​ tо innovate​ іn the digital space.

Social networks like​ X are being flooded with messages​ оf support for Durov and freedom​ оf expression online. Besides cryptocurrency enthusiasts, privacy and internet freedom advocates support Durov, seen​ as​ a symbol​ оf resistance​ tо censorship and government surveillance.

TON’s price corrected about 15%​ іn recent hours, trading above $5.71, according​ tо CoinMarketCap data.

TON Forecast

According​ tо CryptoPredictions, the TON price for today (08/25/2024)​ іs predicted​ tо​ be​ іn the range​ оf $5,635​ – $8,287. The Toncoin price​ іs predicted​ tо end today​ at $6,630.

Tomorrow (08/26/2024), the price​ оf TON​ іs expected​ tо range between $5,466 and $8,039. Tomorrow, Toncoin​ іs expected​ tо open​ at $6.431 and close​ at $6.367.

Toncoin​ іs predicted​ tо start September 2024​ at $5,812 and end the month​ at $5,566. During September, the maximum expected price​ оf TON​ іs $7,714 and the minimum​ іs $5,245.

By Leonardo Perez