A crypto dealer who capitalizes on TON ecosystem meme tokens has registered an enormous revenue regardless of Telegram CEO Pavel Durov’s arrest. The sensible dealer lately made a 12x revenue by promoting Resistance Canine (REDO) throughout the TON community. Following the rebranding of TON Blockchain’s brand to the REDO token brand, its value skyrocketed by roughly 200%.
Crypto Dealer Makes Large Revenue On TON Ecosystem
The dealer in query offered all 881,000 REDO tokens, securing a outstanding revenue of 107,275 SOL, equal to $606,000. This transaction represented a 12x return on the dealer’s preliminary funding in REDO. Furthermore, it marks one of the crucial worthwhile trades throughout the TON ecosystem, in line with TonViewer.
The newest surge comes from TON Blockchain adopting the Resistance Canine brand as they rally behind Pavel Durov after the Telegram CEO was arrested in France. The token value surged to a excessive of $0.94 at present, which a number of merchants capitalized. Nevertheless, part of group members additionally shifted to different tokens as Telegram faces scrutiny.
The dealer’s success didn’t cease with REDO. He additionally made vital beneficial properties from buying and selling different meme coins throughout the TON ecosystem. Notably, he earned 5,207 TON, valued at $29,400, by trades involving Ton Inu (TINU). He achieved a 35x return on TINU meme crypto sale.
Moreover, he secured 3,118 TON, value $17,600, from buying and selling Paper Aircraft (PLANE), marking a formidable 62x return. In whole, the dealer engaged in 11 meme coin trades, attaining a win charge of 54.5%. His cumulative revenue throughout these trades amounted to 115,387 TON, which is roughly $652,000, in line with blockchain analytics agency Lookonchain.
About Pavel Durov’s Arrest & Public Outrage
The arrest of Telegram CEO Pavel Durov in France has triggered widespread controversy, drawing reactions from distinguished tech leaders and public figures. Durov was apprehended on August 25 at Le Bourget airport close to Paris. The motion was taken for his alleged involvement in felony actions facilitated by his messaging platform, Telegram. On the day of arrest, TON ecosystem’s native token, Toncoin, plunged over 12%.
The costs embody terrorism, cash laundering, drug trafficking, and distribution of unlawful content material. Furthermore, French authorities argue that Telegram’s lack of moderation has turned it right into a haven for organized crime.
In response to the arrest, distinguished figures like Elon Musk voiced strong support for Durov. Musk, CEO of Tesla, criticized the state of affairs, stating:
“Instagram has an enormous little one exploitation drawback, however no arrest for Zuck, as he censors free speech and provides governments backdoor entry to consumer information.”
Political figures like Robert F. Kennedy Jr. also condemned the arrest. Kennedy tweeted, “France simply arrested Pavel Durov… The necessity to shield free speech has by no means been extra pressing.”
Amid heightened scrutiny in TON ecosystem, Telegram launched the #FREEDUROV marketing campaign. It gained traction, with assist from numerous celebrities and tech leaders. Moreover, Tron founder Justin Solar pledged $1 million in the direction of Durov’s authorized protection if sufficient group assist is garnered. As well as, Andrew Tate went on to query France’s regulation enforcement.
Kritika Mehta
Kritika boasts over 2 years of expertise within the monetary information sector. At the moment working as a crypto journalist at Coingape, she has persistently proven a knack for blockchain know-how and cryptocurrencies. Kritika combines insightful evaluation with a deep understanding of market developments. With a eager curiosity in technical evaluation, she brings a nuanced perspective to her reporting, exploring the intersection of finance, know-how, and rising developments within the crypto house.
Disclaimer: The offered content material might embody the non-public opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any accountability in your private monetary loss.
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