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You are at:Home » Telegram Linked Token Sheds $2.7 Billion After CEO Arrest, While This Ethereum Token Gains $3.5 Million
Industry Viewpoint

Telegram Linked Token Sheds $2.7 Billion After CEO Arrest, While This Ethereum Token Gains $3.5 Million

Toncoin (TON), a token linked to Telegram, lost about $2.7 billion in market value on Monday, August 26, following the arrest of the messaging app's co-founder, Pavel Durov, on Saturday, August 24.
Neelesh RoyBy Neelesh RoySeptember 2, 2024Updated:September 2, 2024No Comments4 Mins Read
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Telegram Linked Token Sheds $2.7 Billion After CEO Arrest, While This Ethereum Token Gains $3.5 Million
Telegram Linked Token Sheds $2.7 Billion After CEO Arrest, While This Ethereum Token Gains $3.5 Million
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Toncoin (TON), a token linked to Telegram, lost about $2.7 billion in market value on Monday, August 26, following the arrest of the messaging app’s co-founder, Pavel Durov, on Saturday, August 24. Meanwhile, ETFSwap (ETFS), a new Ethereum token, has performed exceptionally well in its presale, generating over $3.5 million in revenue in just two months.

Toncoin (TON) Price Plunges Following Telegram Co-Founder’s Arrest

Toncoin (TON), previously known as Gram, is the native cryptocurrency of the TON network. While Toncoin (TON) has stated that it operates independently from Telegram, the connections between the two have positioned Telegram as one of the most talked-about initiatives in the cryptocurrency space. In May 2024, Pantera Capital, a prominent American investment firm, described its acquisition of Toncoin (TON) as its largest investment to date.

Thus, following the arrest of the Telegram’s messaging app co-founder, Pavel Durov, Toncoin (TON) suddenly fell, with prices crashing to around 20%. Pavel Durov was arrested at Le Bourget airport near Paris on Saturday, August 24. French authorities took him into custody on suspicion of failing to take steps to prevent criminal activities on the Telegram platform. The arrest was made at the request of France’s OMFIN, an agency tasked with preventing violence against minors.

OMFIN has accused Durov of allowing Telegram to be used for various illicit activities, including fraud, drug trafficking, cyberbullying, organized crime, and the promotion of terrorism. Although the ongoing legal situation surrounding Durov will likely continue affecting Toncoin’s performance in the near future, the token remains one of the top cryptocurrencies, with a market capitalization of $14.39 billion as of August 26, 2024.

ETFSwap (ETFS): New Ethereum Token Poised To Outpace Toncoin

The new Ethereum token, ETFSwap (ETFS), has garnered significant attention and revenue of up to $3.5 million due to the increasing momentum and bullish sentiment surrounding its innovative solution. This Ethereum-based initiative aims to utilize blockchain technology to provide decentralized access to the global ETF market, allowing investors to trade and invest in tokenized ETF assets backed by real securities sourced from traditional markets.

These tokenized ETFs include market, fixed-income leverage, and commodity, as these ETFs cover lucrative technology, energy, healthcare, and agriculture sectors, among others. ETFSwap (ETFS) seeks to enhance security, transparency, and trading efficiency compared to centralized markets by leveraging the Ethereum network. Additionally, the ETFSwap (ETFS) team has completed KYC verification through SolidProof, confirming project ownership and verifying team members’ identities.

As the first of its kind, this new platform improves upon existing centralized platforms and introduces valuable functionalities that are not available elsewhere. For example, with ETFSwap (ETFS), token holders can benefit from faster ETF settlements, staking and lending opportunities, quick swaps between cryptocurrency and ETF assets, lower trading costs, and 24/7 trading, among other features.

The platform also boasts built-in artificial intelligence (AI)-powered tools such as the ETF Screener and ETF Tracker, which help mitigate risks and enhance trading experience. This innovative nature of ETFSwap (ETFS) has attracted millions of crypto investors looking to diversify their portfolios and access permissionless trading without the need for KYC registration.

As the first decentralized ETF trading platform, ETFSwap (ETFS) offers its Ethereum token holders the opportunity to capitalize on its first-mover advantage. The platform’s beta launch is scheduled for the coming weeks, providing a chance for early testing. The token holders will also be among the first to trade the platform’s ETF when it launches in 2025.

ETFSwap (ETFS) holders also enjoy other benefits like governance rights and the opportunity to earn passive income. Those who stake the Ethereum token will earn mouth-watering yields on their staked tokens and are also eligible for monthly airdrops from the ETFS rewards pool.

Conclusion
With a presale price of $0.01831, ETFSwap (ETFS) provides a better investment opportunity than tokens like Toncoin. Experts predict that the Ethereum token will witness a 20,000% price rally from its current price, giving investors the opportunity to enjoy up to 200x retruns on their investments.

For more information about the ETFS Presale:
Visit ETFSwap Presale
Join The ETFSwap Community

Read Also: BTC and ETH ETF Flows Defy Market Downturns: What Does This Mean for Crypto Investors?

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Neelesh Roy
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Neelesh Roy is a seasoned financial journalist with a focused expertise in the cryptocurrency market. With a solid foundation in mass communication, his career began in the bustling world of stock markets, where he honed his skills in financial reporting and analysis. Transitioning to cryptocurrency, Neelesh has spent the past two years covering this volatile and exciting sector.

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