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## Toncoin (TON) Climbs 20%, Passing Stellar (XLM) in Market Valuation
According to Wu Blockchain, the TON Foundation verified that French officials gave back Pavel Durov’s identification, letting him determine if he wants to exit the country.
Information from TradingView displays Toncoin undergoing a noticeable rise during Saturday’s trading hours, growing from a bottom of $2.906 to a peak of $3.637, representing a 22.58% gain. This upswing comes after Telegram creator Pavel Durov’s departure from France, where he was restricted since his detention in August 2024.
Having a market capitalization of $8.59 billion, Toncoin currently holds the 14th spot, exceeding Stellar’s $8.37 billion worth. This 20% cost increase has pushed TON ahead of XLM, improving its standing in the Cryptocurrency Space Resurges Currently: BTC Reaches ,292, TON & Others Spearhead the Demand! standings.
Over the last day, Toncoin has gone up by 19%, trading at $3.46 at the time of this writing, whereas Stellar (XLM), holding the 15th position, has noticed a small decrease to $0.272.
Wu Blockchain, mentioning AFP, says that Telegram’s Pavel Durov has been given authorization by a French court to depart France for Dubai. Sources suggest that the investigating magistrate approved alterations to Durov’s legal oversight conditions, enabling him to depart France for a couple of weeks.
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## Toncoin Comeback
Toncoin serves as the inherent digital currency of the Open Network, gaining traction among Telegram’s user base despite its recognized autonomy from the messaging service.
Commencing on March 11, TON has sustained a five-day upswing, culminating on March 15 with a summit of $3.637, prior to facing obstacles. In the wake of an unprecedented upswing within the digital currency sphere, TON attained its apex value of $7.20 on December 4, 2024, preceding a consistent downturn. It touched its nadir at $2.363 on March 11 and has been recuperating ever since. This week has witnessed a 20% surge in Toncoin’s value. A conclusive breach beyond the daily SMA 50 average of $3.645 might portend a fresh bullish phase for TON. Recalling August 24, 2024, speculations regarding the apprehension of Telegram’s originator in France precipitated a precipitous descent, with TON nosediving by over 35%, plummeting from approximately $6.88 to $4.44 by September 2024, before progressively rebounding.
