Toncoin open interest surges 32% following Pavel Durov’s arrest
Toncoin’s price sharply declined following the news that Pavel Durov had been arrested, and future traders saw it as an opportunity with open interest surging 32%.
Toncoin (TON), the native coin of The Open Network and originally developed by the Telegram messaging app, saw a surge of future traders hedging their bets on the asset’s price following the arrest of Telegram CEO Pavel Durov.
On Aug. 24, Durov was arrested when his plane landed at the Bourget airport outside Paris. He allegedly faces charges of terrorism, trafficking, conspiracy, fraud, money laundering, and more.
Just hours after the reports emerged, Toncoin Open Interest (OI) surged 32% to $303.09 million, according to CoinGlass data. The flock of traders appeared following TON’s price plummeting following the news.
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Author: Ciaran Lyons
