Toncoin Price Difficulties Amid Global Survey
ToncoinThe cryptocurrency associated with Telegram’s blockchain network is under increasing pressure as global scrutiny of the messaging app intensifies. The latest investigation comes from South Korean authorities, who have launched an investigation into whether Telegram was used to facilitate the spread of sexually explicit deepfake content. The investigation has raised concerns about the stability of TON, with many traders speculating that the price of TON could drop below $5 in the near future.
South Korean authorities step up investigation into Telegram
On September 2, South Korean police confirmed that they were investigating Telegram’s potential role in distributing illegal deepfake pornography, a move that comes amid growing public and political backlash against digital sex crimes, including against women in South Korea.
According to local reports, Telegram chat rooms were the main platform for disseminating this illegal content. Korea Cyber Investigation Agency While there has been no official comment yet, the inquiry is expected to work with France and other international agencies to address these concerns.
This investigation adds to Telegram’s existing legal issues in the EU, India, and Indonesia. For cryptocurrency investors, this situation is quickly evolving into a major risk event that could potentially impact Toncoin’s market performance.
Toncoin Price Trend: Is a Drop Below $5 Imminent?
Toncoin’s market performance has been shaky in recent days. According to the latest data, Toncoin has fallen by 3% in the last 24 hours, trading at around $5.20. The cryptocurrency has recorded a 24-hour low of $5.12 and a 24-hour high of $5.39. The trading volume has also decreased by 5%, showing that investor interest is waning.
According to technical indicators, the price of Toncoin is currently struggling to stay above important support levels. The coin recently broke below the 50-day, 100-day, and 200-day moving averages, and the psychological support level of $5 is becoming increasingly important. If the price breaks below the $5.1 support level, further declines could follow. Conversely, a bounce above $5.5 could indicate a potential recovery, but the current trend is still bearish.