Crypto Analyst Says Large-Cap Ethereum Rival at Risk of Massive Sell-Off – Here’s Why
A popular crypto analyst thinks one large-cap Ethereum (ETH) rival could be at risk of a massive sell-off. Ali Martinez tells his 72,400 followers on the social media platform X that Toncoin (TON) could be in for rough weeks ahead following a new announcement that the messaging platform Telegram will provide user data to governments under certain circumstances. Telegram initially developed Toncoin in 2018, but it parted ways with the project in 2020 following a legal battle with the U.S. Securities and Exchange Commission (SEC). The Open Network, an open-source community of developers, took over management of the technology that year. TON, however, can still be sent by Telegram’s 900 million users within the platform without entering long wallet addresses. Pavel Durov, Telegram’s founder and chief executive, was arrested by French authorities last month on a warrant related to his platform’s alleged failure to moderate content linked to drugs, fraud a...