2024-03-24
The temporary suspension of Telegram services in Spain by the High Court following complaints from media companies has caused Toncoin (TON) price to tumble by 5%.
Judge Santiago Pedraz has approved a temporary ban on Telegram services in Spain following complaints from media companies such as Atresmedia, EGEDA, Mediaset, and Telefonica.
The ban comes amidst allegations that Telegram allowed users to upload media content without proper permission.
The decision aims to halt Telegram's operations until the arguments presented by both sides are thoroughly investigated.
Despite this setback, TON has shown resilience with a recent 10% increase in the last 24 hours and a 27% increase over the week.
The current trading price stands at $4.76, with a notable surge in trading volume, suggesting growing interest among traders.
The positive developments surrounding Telegram’s IPO, successful bond sales, and the anticipation of increased adoption of Toncoin within Telegram’s ecosystem have contributed to investor optimism despite the temporary disruption in Spain.
