Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»After Pavel Durov’s arrest, TON liquidation exceeds $7.2 million
ALTCOIN NEWS

After Pavel Durov’s arrest, TON liquidation exceeds $7.2 million

By Crypto FlexsAugust 26, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
After Pavel Durov’s arrest, TON liquidation exceeds .2 million
Share
Facebook Twitter LinkedIn Pinterest Email
  • TON liquidation reaches $7.2 million after Telegram founder’s arrest
  • Investor fear, uncertainty and lack of confidence have led to increased selling pressure.

The Toncoin (TON) community has been under intense pressure due to the arrest of Telegram founder Pavel Durov. According to reports, Durov was arrested in France and is likely to face a 20-year prison sentence. This news has had a huge impact on Telegram-based altcoins.

Tone liquidation surge

According to Coinglass data, Toncoin liquidations hit a historic high in liquidations. Ton reported $7.21 million in liquidated positions, surpassing the liquidations reported during the market crash earlier this month.

According to data, during the 24 hours leading up to the market crash on August 5, TON liquidations hit a record $6.5 million, mostly long positions. The recent liquidations are different, as liquidations of both short and long positions have increased.

Source: Coinglass

In particular, these liquidations show that the market is experiencing high volatility and rapid price movements. High volatility often leads to stop losses and margin calls, which in turn lead to forced liquidations.

Impact on the ton price chart

Following news surrounding the legal issues of Telegram’s founder, Toncoin lost $2.9 billion in market cap, dropping from $17.1 billion to $14.2 billion. The decline was due to lower trading volume after a 27.3% drop.

Therefore, according to AMBCrypto’s analysis, the increase in liquidations has led to the Ton’s downward trajectory. Toncoin has plunged by 18.77% on the weekly chart.

This phenomenon is further evidenced by the decline in the Relative Strength Index (RSI), which fell from 52 to 36 at the time of writing.

Source: Tradingview

A decreasing RSI indicates that this altcoin is under immense selling pressure, which is pushing the cryptocurrency into oversold territory. This suggests that uncertainty is increasing and investors are less confident about the prospects of this altcoin.

Likewise, the Directional Movement Index (DMI) has fallen from 23 to 16 as of this writing, showing that altcoins have been pushed into a downtrend due to increased selling.

The positive index crossing the negative index from above suggests that the downtrend in tone has been strong over the past day.

Source: Santiment

Looking further, the increased inflow from exchanges indicates that TON holders are expecting the price to fall and are preparing to sell. Therefore, due to the negative news, investors were forced to move their assets to the exchange and sell.

So, as the data shows, negative news has affected market sentiment. High liquidations have led to higher selling pressure, which has led to lower market cap, volume, and price.

Therefore, if the current market sentiment holds, the altcoin is at risk of further decline towards the local support level of $4.77.

Next: Ethereum Exchange Holdings Hit All-Time Low – Good News for ETH?

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The method of transforming ASTER WHALES into panic is as follows.

September 25, 2025

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

‘Fat Apps’ can lead the cryptographic story in the next few months.

September 11, 2025
Add A Comment

Comments are closed.

Recent Posts

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025

LYS Labs Moves Beyond Data And Aims To Become The Operating System For Automated Global Finance

September 26, 2025

Dexari Unveils $1M Cash Prize Trading Competition

September 26, 2025

How to solve the XPL perp defect

September 26, 2025

Detect the full execution bug with the induction pursing of Wake

September 25, 2025

KuCoin Appeals FINTRAC Decision, Reaffirms Commitment To Compliance

September 25, 2025

Phemex Revamps Blog To Deliver Deeper Insights And Enhanced Reader Experience

September 25, 2025

T-REX Launches Intelligence Layer To Fix Web3’s Value Distribution Problem

September 25, 2025

Are you doing a fair deal?

September 25, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Futuromining Reaches $5,700 Daily Income Milestone For XRP Users

September 26, 2025

CoinFerenceX 2025 Unites Global Web3 Innovators In Singapore On September 29

September 26, 2025

Pepeto Highlights $6.8M Presale Amid Ethereum’s Price Moves And Opportunities

September 26, 2025
Most Popular

Bitcoin (BTC) Hits 39-Day High Amid Market Recovery as Bullish Signals

July 22, 2024

Coinbase’s BASE Achieves $2 Billion TVL Milestone. Meme Market Soars – Is It Time to Invest in FLOKI and $MEDA?

March 30, 2024

Tron, BNB, is far behind BTC and ETH, attracting over 1 million active users.

February 17, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.