Hassan Maishera
TL;DR
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Telegram is the best performer amongst the top 10 cryptocurrencies by market cap.
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The rally comes after Telegram announced changes that would enable the moderation of private chats.
TON Rallies 7% as Telegram Makes Changes
TON, The Open Network’s native coin, is the best performer amongst the top 10 cryptocurrencies by market cap. The coin is up 7% in the last 24 hours, outperforming Bitcoin and other major cryptocurrencies.
At press time, TON’s price was $4.89, and it still occupied the tenth spot in the market. The positive performance comes after Telegram revamped rules to allow moderation of private chats.
These changes come a few days after CEO Pavel Durov was arrested in France for allegedly failing to police law-breaking content. Thanks to these changes, users in private chats can "flag illegal content" for review. In the past, Telegram treated private groups as off-limits.
Last month, Duros was arrested by French authorities for allowing alleged criminal activity to fester on the app. He has since been released on €5M bail but must remain in France pending trial.
While TON is rallying, the other major cryptocurrencies are underperforming. BTC, the leading cryptocurrency by market cap, is down 1.3% and now trades at $56.431 per coin.
Ether has also lost 1% of its value in the last 24 hours and is changing hands at $2,383. Dogecoin is the only other major cryptocurrency with significant gains over the previous 24 hours, up 2.2%.
Despite TON’s positive performance, the total cryptocurrency market cap remains below the $2 trillion mark.
