So, it looks like the crypto market is taking a hit right now, and it’s all because of Telegram’s founder, Pavel Durov. He got arrested at an airport in France, and as you can imagine, the crypto community isn’t taking it well. Toncoin and Notcoin are down big time, and I’m here to break down what’s going on.

The Crypto Market Reaction

In the last 24 hours, Toncoin has plummeted by 15.52% and Notcoin by 16.63%. This isn’t just some random dip; it’s directly related to Durov’s arrest. Apparently, there was a search warrant from the French authorities linked to some serious accusations against him—think terrorism, drug trafficking, fraud…the works. And since both coins are closely tied to Durov and Telegram, investors are panicking and selling off their holdings.

Liquidations Are No Joke

If you think it’s just price drops, think again. In the derivatives market alone, investors lost nearly $8 million across both coins. For Toncoin, it was about $4 million in liquidations, with most being long orders. This just goes to show how volatile things can get in crypto trading.

The Bigger Picture

This whole situation isn’t just about Durov getting arrested; it’s a wake-up call about how sensitive the crypto market is to news involving influential figures. Regulatory scrutiny is already a hot topic in crypto circles, and events like this can really shake investor confidence.

What Should Investors Do?

Honestly? Keep an eye on the news. If more information comes out from the French authorities regarding Durov, that could change everything. As of now, things are looking pretty grim for Toncoin and Notcoin.

Final Thoughts

This is a classic case of “crypto is risky” rearing its ugly head. Investing in coins tied to influential personalities can be a double-edged sword. On one hand, you have potential for massive growth; on the other hand, you could lose everything overnight due to external factors completely out of your control.

So yeah, stay informed folks. The impact of cryptocurrency can be wild and unpredictable!

The author does not own or have any interest in the securities discussed in the article.