According to the AFP news agency, Durov left France for Dubai on the morning of March 15 after obtaining permission from French authorities to exit the European country.

“Standing with Pavel Durov”

TON Society stated, “We have stood by Pavel since his arrest on August 24, 2024.” The statement continued:

“Pavel’s unwavering commitment to free speech and transparency, even under the most challenging circumstances, is a powerful reminder of the importance of standing by your principles, even when it is politically and personally costly.”

French Government Condemned!

Previously, TON Society had strongly criticized the French government’s decision to detain Durov, urging his immediate release as the founder of Telegram.

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In a letter dated August 27, they wrote:

“The arrest of Telegram founder Pavel Durov is a direct attack on a fundamental human right — the freedom of expression for all.”

The organization also called on international bodies such as the United Nations (UN), the Council of Europe (CoE), the Organization for Security and Cooperation in Europe (OSCE), and the European Union (EU) to intervene and demand Durov’s release.

Macron Denies Political Motives Behind Durov’s Arrest

Following Durov’s arrest by French law enforcement, French President Emmanuel Macron denied that the move was politically motivated. Macron insisted France remains committed to free speech, although his remarks were met with skepticism from both the crypto industry and free speech advocates.

In a subsequent press conference, Macron also denied inviting Durov to France, despite widespread backlash from the crypto community.

Meanwhile, Chris Pavlovski, CEO of the free speech video platform Rumble, confirmed that he safely left Europe shortly after Durov‘s detention. In an August 25 post on X, Pavlovski stated that the French government had also threatened Rumble and condemned authorities for cracking down on free speech.

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Telegram Will Only Support TON Network and Toncoin

According to a statement shared on January 21, Telegram will discontinue support for all other blockchains and cryptocurrencies, including its messaging services and Mini Apps, and will exclusively continue with The Open Network (TON).

As part of a new partnership between Telegram and the TON Foundation, TON will become the exclusive blockchain infrastructure for Telegram’s Mini App ecosystem.

The statement also noted that Telegram will continue to accept only Toncoin for non-fiat payments in exchange for assets and services offered by Telegram.

The new partnership strengthens Telegram’s ongoing support for TON as its preferred blockchain network for Web3 infrastructure, stemming from the close collaboration between Telegram and the TON Foundation.

Deepening Ties Between TON and Telegram

The TON Foundation stated that Telegram’s TON features have played a significant role in the network’s growth through updates to Mini Apps, the use of TON for pay-ins and payouts, and its advertising platform.

“The new exclusivity agreement deepens the technological ties between TON and Telegram,” the announcement said.

As part of the partnership, Telegram will continue to accept TON as the only token for payments made for Telegram services such as Telegram Stars, Telegram Premium, Telegram Ads, and Telegram Gateway, an alternative platform to traditional SMS verification.

Additionally, Toncoin will be the only currency used to pay Telegram Mini App developers and channel owners for their earned Telegram Stars and advertisement revenue.

TON Connect, Exclusive Protocol for Linking Telegram Mini Apps to Blockchain Wallets

A spokesperson for the TON Foundation said, “Many builders chose to deploy on TON before, but some added blockchain functionality through other networks instead.”

The representative mentioned Mini App launches on networks like Sui, Solana, Aptos, and others, adding:

“The expanded partnership will make TON Connect the exclusive protocol for linking Telegram Mini Apps to blockchain wallets — so Mini Apps will now only be able to deploy blockchain functionality on TON.”

Manuel Stotz, the new president of the TON Foundation, emphasized the importance of the exclusive partnership with Telegram as a significant step in its roadmap.

“After laying foundational groundwork over the last years, TON is now ready for explosive growth in 2025,” he said, adding:

“Telegram is the sixth most downloaded app in the world, a beacon for free speech, and the default messaging platform for the global blockchain community. No other blockchain has a comparable distribution vector.”

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The viral success of the TON blockchain is largely due to its connection with the Telegram messaging app. More than 950 million Telegram users can access TON-based blockchain applications directly through the messaging app. This dynamic presents a huge opportunity for DeFi to reach a wide audience.

The Potential of TON and Telegram

According to the GSR report published on October 17, the The  Open Network+Telegram ecosystem has the potential to enable DeFi adoption not only in the gaming and social segments, but also by non-crypto audiences. The report stated:

“While the attention around The Open Network has generally focused on gaming and social applications, we believe the TON+Telegram ecosystem presents a huge opportunity for DeFi that needs to expand beyond crypto-specific audiences.”

This forecast is considered a promising sign for the DeFi sector at a time when the DeFi sector has been underperforming compared to memecoins and smart contract platform-based tokens.

DeFi Sector Going Through Tough Times

According to Artemis data, between January 2022 and September 2023, tokens connected to DeFi protocols fell by 72%, while memecoins lost 35% and smart contract-based tokens lost 48%. This weak performance of DeFi raises expectations that new technologies like TON could revitalize the sector.

TON Surpasses Ethereum and L2

Thanks to its increasing adoption rate, TON has surpassed many popular blockchains in terms of active addresses. According to the report, the number of monthly active addresses on the network increased from 100,000 in September 2023 to 9.9 million in September 2024 after Telegram introduced its integrated wallet.

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This increase put TON ahead of Ethereum with 5.5 million active addresses in September 2024. It also ranked ahead of Ethereum layer-2 (L2) networks such as Arbitrum, OP Mainnet, and Polygon PoS. However, the report also noted that Coinbase’s Base blockchain and Solana still have more active users than TON.

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The TON network has transaction records of 8,68 million and this was on the 31 of August while the previous record was in the month of January with records of 8,56 million transactions. This upward traverse persisted and the network reached the 10 million daily transaction figure on Friday.

Also, the statistic on the number of active addresses through the TON network is also increasing. The average number of active addresses by the 7DMA was nearly 701800 which was higher by about 6% than the previous week.

However, the price of TON token has not increased in proportion with the increase in network activity. Since the news about Durov’s arrest was made public, the token has lost more than 30% of its value and it lost almost 20% within the first three hours. Although other conditions in the broad market may have had some impact in this, the arrest had its significant contribution to this drop.

As the network is gaining new followers, the effects of Durov’s arrest on TON token and the ecosystem, in the long run are still unclear.

The post TON Network Sees 160% Surge in Transactions Following Telegram Founder’s Arrest appeared first on Coin Engineer.

The TON token is also the largest token owned by Kingsway Capital; its founder and CEO, Manuel Stotz, informed me (not before publication). Over two years ago, Stotz claimed, Kingsway began purchasing the TON token, much ahead of Pantera.

Ryze Labs, formerly Sino Global Capital, also significantly owns the TON coin. Again, not previously revealed, Matthew Graham, founding and managing partner, told me Ryze has been a “large buyer” of the TON token “for some time now.”

According to co-founder and executive chairman Yat Siu, Animoca Brands began purchasing the TON token when it was less than $1. Siu said the company continued to purchase the token at $1, at $1.50, and at $2. Currently trading at about $7.65, TON has grown to be the ninth-largest cryptocurrency based on market value. On the TON blockchain, or The Open Network, Animoca is also the biggest validator, Siu said.

Exclusive Connection with Telegram

The TON token appeals mostly to these investors because of its exclusive and unique connection with Telegram, the messaging app powerhouse with around 900 million monthly active users. “To me, the TON token represents a distribution play,” Siu said.

Animoca, a game developer and publisher, sees the TON blockchain’s connection with Telegram as a means to onboard hundreds of millions of users to Web3 and ultimately a billion people, Siu added. Built on the TON blockchain and available through Telegram as mini-apps, certain recent games, including Notcoin and Hamster Kombat, have garnered great popularity.

Potential of TON in Financial Applications

Citing its potential to enable payments across a large user base and future financial applications through the Telegram app, Galaxy Ventures’ General Partner Will Nuelle also expressed optimistic ideas on the TON token long-term.

Driven generally by its “massive built-in distribution,” Nuelle said the TON network is a “great candidate” to create Layer 1 network effects. Regarding whether Galaxy Ventures has made investments in the TON coin, Nuelle responded, “Galaxy is generally involved with major ecosystems across a myriad of its business lines.”

According to Graham of Ryze Labs, there is a significant possibility presented by the TON network’s development toward a WeChat-like ecosystem of mini-apps paired with crypto capabilities. Recent advancements, like the use of the TON token for ad payments, creator compensation, and in-app USDT stablecoin peer-to-peer transactions, have resulted in even more development.

Graham said Solana and TON could question Ethereum’s hegemony going forward. He did admit, though, that the TON ecosystem is still in its early phases and that many basic primitives still need to be evolved. Furthermore, he noted, the accessible development tools, frameworks, and libraries are less strong than those of more seasoned blockchains.

Nuelle also mentioned a major TON network issue: it is overly opaque. He added that he would urge developers to keep expanding their block explorer and on-chain data sources and features.

Driven by Telegram’s large user base and significant investment support, the TON token has attained a $18.8 billion market capital value. Given the token’s great value for a somewhat young ecosystem, it most likely has great expectations to fulfill.

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Record Profits and Growing User Base

Users of Tether are informed of amaizing truths related to the Q1 2024 attestation report, which indicates that the profits of the stablecoin issuer had reached $4 billion. 52 billion in spending, powered mostly by US government Treasury debts. With 5. Tether’s usage is demonstrated by the fact that it has 6 million active addresses, and with this, there is no denying Tether’s contributions to the crypto world.

Decentralization Dynamics

The evaluation of the Herfindahl Index highlights wallet elasticity and reveals the most distributed supply, with DAI at the top of the list. Nevertheless, you can place the Tether on the TON platform, which will shift a trading token’s balance, probably changing the state of the market.

TON Integration and Transaction Dynamics

The USDT-TON merger, a network used by Telegram, made transactions simpler, cheaper, and faster, so TRON’s own cryptocurrency looks less attractive now. The overwhelming majority of TRON transactions occur via USDT; however, native integration of Telegram into TON might change the field.

Remittance Market Implications

However, in many countries, including India, Russia, Indonesia, the US, and Brazil, where Telegram enjoys a considerable number of user bases, remittance flows are high. In addition to Tether integration with TON, it will be possible to set up new remittance channels that have great opportunities, especially in these key markets.

Expanding Horizons

Tether’s tie-up with TON will bring about a revolutionary recharacterization of stable coins and seems to solve the remittance problem. Through the control of a large market share as well as the possibility of expansion, USDT stands among the other currencies as a robust network.

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