The rebranding of Toncoin to Gram resulted in a significant price decline: after the name change, the TON ecosystem token lost nearly 15%. The renaming initiative came from Pavel Durov, the founder of Telegram: the name change was an attempt to update the positioning of the TON token under the Gram name. On June 15, the day of the announcement, the asset rose to $1.82.
What Changed After TON Switched to Gram
Key indicators as of 11:00 MSK on June 24:
- GRAM price: about $1.55.
- 24-hour change: minus 11%.
- Position on CoinMarketCap: weakest movement among the top 100 cryptocurrencies.
- 1000 GRAM at this rate — about $1550.
Major crypto exchanges supported the renaming, but the switch to the new ticker is not happening simultaneously. You can buy or trade Gram on platforms that have already announced their transition schedule:
- Bybit — one of the first to replace the TON name with GRAM.
- Binance — will keep the old designation until June 30; trading in pairs with GRAM is expected to start on July 2.
- Other major exchanges also supported the renaming, but transition timelines may differ.
The GRAM exchange rate to fiat currencies like RUB and UAH is currently influenced by several market factors:
- Liquidity: the easier it is to buy and sell the token on major platforms, the fewer sharp price distortions.
- Trading pairs: delays in switching to the new ticker may temporarily affect deal availability.
- Overall crypto market sentiment: in the “Extreme Fear” zone, investors tend to reduce risk.
General Background in the Crypto Market
The total cryptocurrency market capitalization decreased by 0.7% over the past 24 hours to $2.15 trillion. Bitcoin (BTC) is holding roughly at the previous day’s level — about $62.6K. Ethereum (ETH) lost 1% and is trading near $1.67K.
Among the top 100 coins, Audiera (BEAT) showed the strongest growth: its price soared by 50%. After Gram, the most notable drop was World (WLD, formerly Worldcoin), which fell by 10.5%.
Investors Turn to Caution
The crypto market fear and greed index fell even deeper into the “Extreme Fear” zone: the indicator dropped from 23 to 17 points out of 100. This level reflects increased anxiety and a greater willingness among market participants to sell crypto assets.
Outflows from crypto funds have increased investor caution:
- Net outflow from U.S. spot Bitcoin ETFs: $113 million.
- Net outflow from Ethereum funds on June 23: $82 million.
This part of the market remains in focus for U.S. regulatory agendas, including attention to SEC decisions.
Earlier, analysts from major market maker Wintermute noted that Bitcoin has unexpectedly held steady around $62K amid the Fed’s monetary policy reversal and the collapse of peace talks between the U.S. and Iran. At the same time, experts do not rule out that the price decline may continue.
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