Toncoin price soars as Telegram eyes TON’s rebrand to GRAM

• Toncoin price jumped as Bitcoin revisited support below $72,000.
• Bulls took advantage of Telegram-related news of a rebrand to GRAM token to push TON above $2.27.
• If buyers dominate, Toncoin could edge past $3.00 next.

Toncoin rose by nearly 20% and touched highs of $2.27 on Monday, June 1, as traders digested a surprise rebrand announcement from Telegram’s founder.

The gains for TON came even as Bitcoin and major altcoins fell sharply amid institutional capital outflows.

BTC slid to lows near $71,380 after news that Strategy had sold 32 BTC, its first sale since 2022.

Toncoin’s uptick signalled persistent market interest in the Telegram-backed TON blockchain despite broader market weakness.

Toncoin price gains amid GRAM rebrand news

Double-digit gains in TON’s price followed an announcement that the native token of the TON blockchain will be rebranded from Toncoin to “Gram.”

The move, expected to be completed over the next three weeks, will restore a name Telegram had previously abandoned under regulatory pressure from the US Securities and Exchange Commission.

The rebrand is part of a “Make TON Great Again” roadmap the company recently published, which includes deeper operational involvement by Telegram.

As part of that plan, Telegram disclosed its intent to become TON’s primary validator.

Investors view this as a shift that could materially affect network security and on-chain activity.

A community vote on the move is live.

As was the case then, Toncoin price rose on Monday as market participants reacted to the rebrand news.

Many see this as a signal of renewed institutional and consumer alignment between Telegram’s user base and TON’s native token.

Telegram serves more than 950 million users worldwide; tying the token more directly to the platform increases the potential utility and distribution vectors for Gram, from in-app payments to token-based services and developer integrations.

Traders interpreted the announcement as positive for token demand, prompting the swift price appreciation even as macro-driven selling pressured broader crypto markets.

Toncoin price outlook: Is a new all-time high next?

Technically, TON’s daily chart shows bullish momentum but with caveats.

The relative strength index (RSI) on the weekly timeframe has climbed to 57, indicating strong buying pressure but approaching overbought territory.

The MACD histogram remains positive, with the MACD line above the signal line, suggesting trend continuation in the short term.

These indicators together point to momentum that could extend the rally while warning that a pullback or consolidation is possible if momentum exhausts.

Key levels to watch

If TON holds above the $2.10 support established during Monday’s session, the next near-term resistance zone sits around $3.00.

As the chart shows, this is a level above which bulls could target traction towards $3.70 (100SMA) and then $6.00. TON’s all-time high is above $8.

On the downside, a decisive breakdown below $2.00 would increase the likelihood of a deeper retracement.

If bears breach lower support levels, losing $1.90 could significantly impact the probability of an immediate push toward previous highs.

Given broader market volatility and ongoing institutional flows, traders should monitor on-chain activity and Telegram’s next operational moves for confirmation that the rebrand materially increases utility and adoption.

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