Bitcoin, Dogecoin Were Muffled Last Week But Telegram's Pavel Durov Getting His Passport Back Gave Toncoin Its Wings

The cryptocurrency market witnessed a significant rebound last week, ably supported by leading memecoins and Telegram-linked Toncoin.

What happened: BNX, the native token of the GameFi platform BinaryX, topped the gainers list, exploding over 60% over the week.

The BNB Chain BNB/USD-based coin was just 10% away from bettering its all-time high set two years ago.

The rally came ahead of the project's rebranding to Four (FORM) to align with its newest product, Four.meme, an ecosystem for meme coins.

Four is evolving, and the future is $FORM.

To bring clarity and truly return Four to the community, we are revising the token symbol from $Four to $FORM.$FORM represents continuous creation and infinite possibilities. The ecosystem remains strong—we're building DeFi, GameFi,… pic.twitter.com/OFWDdohOCl
— BinaryX (@binary_x) February 24, 2025

Toncoin, the native token of The Open Network, was the second most successful cryptocurrency over the week, returning over 34% to its holders.

The surge followed the recovery of Telegram founder Pavel Durov‘s passport from French authorities. The tech entrepreneur was detained in August 2024 amid an investigation into crimes related to child pornography, drug trafficking, and fraudulent transactions on the popular social messaging platform.

The decentralized exchange token CAKE followed with a 30% spike last week, aided by an 11% weekly increase in volumes on PancakeSwap.

Cryptocurrency	Gains +/-	Price (Recorded at 12:30 a.m. ET)
BinaryX BNX/USD	+60.71%	$1.62
Toncoin TON/USD	+34.00%	$3.59
PancakeSwap CAKE/USD	+30.86%	$2.04

Market leader Bitcoin BTC/USD eked out a gain of 1.10%, while Ethereum ETH/USD, the second-largest cryptocurrency, fell more than 8% in a week.

Meme heavyweight Dogecoin DOGE/USD was broadly unchanged over the previous week, while Shiba Inu SHIB/USD and Pepe PEPE/USD outperformed with gains of 8.50% and 10.87%, respectively.

The total cryptocurrency market capitalization rose 4.5% over the week to $2.71 trillion.

Photo by Avi Rozen on Shutterstock

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