Toncoin open interest soars 67% as Pavel Durov departs France

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Coin Telegraph 16h ago

Toncoin open interest soars 67% as Pavel Durov departs France - Coin Telegraph

Quick Summary:

Trading resource account Crypto Billion said in a March 15 X post that Toncoin is “showing signs of a potential long-term accumulation phase as it stabilizes near key support levels.”However, if this rally is short-lived, around $18.8 million in long positions could be liquidated if TON’s price falls back toward the $3 level it was trading at on March 14.

On March 15, Toncoin (TON) OI — a metric tracking the total number of unsettled Toncoin derivative contracts such as options and futures — reached $169 million, representing a 67% increase from the previous day when the reports of Durov’s departure first surfaced, according to CoinGlass data.

Toncoin Open Interest (OI) has jumped 67% over the past 24 hours amid reports of Telegram founder Pavel Durov’s departure from France, where he had been required to stay since his arrest seven months ago.