The broader market spent the weekend grinding sideways, but TON went its own way 👀
According to Basis Desk’s closing figures for October 25:
BTC closed at $80,019, down slightly by 0.8%
Of the top 50, 29 fell and only 14 rose
TON, however, surged 41.8% in a single day, closing at $1.78 and shining brightest among the top 30
What gave it a push wasn’t some mysterious pool of capital—it was a name
Telegram founder Durov announced that Toncoin will be renamed Gram within the next three weeks, returning to its original brand
A name change might sound like fluff, but the market runs on narratives
Its 24-hour trading volume reportedly surged to around $760 million, more than doubling from the previous day
And this rally was driven mainly by spot trading, with derivatives barely joining in. That makes the setup a little healthier than a rally fueled purely by leverage
But let’s pour a little cold water on things
Just last week, around 46 million TON tokens, worth about $81 million, were unlocked for the community
That’s less than 1% of the total supply—not much, but once the buzz around the rebrand fades, the newly circulating tokens become real selling pressure
There was another detail in Basis Desk’s data for the same day: net outflows from exchanges were about $1.28 billion, with far more funds withdrawn than deposited
The money hasn’t fled; it’s just moved from exchanges into custody. When the broader market is grinding out a bottom, big money tends to prioritize safety over speed
So what do I make of this TON rally?
The rebrand narrative plus rising spot volume does give it the makings of an independent short-term run
But the area around $2 is a supply zone up ahead. Whether TON can hold there is the real test
If it can’t, even a 40% gain could vanish in a few days
Would you buy into a rebrand?
Or do you think the name has changed, but the fundamentals haven’t—and this is just emotional trading?
$TON $BTC
#Toncoin #Telegram #Market Watch
Not investment advice. DYOR. Trading involves risk.
According to Basis Desk’s closing figures for October 25:
BTC closed at $80,019, down slightly by 0.8%
Of the top 50, 29 fell and only 14 rose
TON, however, surged 41.8% in a single day, closing at $1.78 and shining brightest among the top 30
What gave it a push wasn’t some mysterious pool of capital—it was a name
Telegram founder Durov announced that Toncoin will be renamed Gram within the next three weeks, returning to its original brand
A name change might sound like fluff, but the market runs on narratives
Its 24-hour trading volume reportedly surged to around $760 million, more than doubling from the previous day
And this rally was driven mainly by spot trading, with derivatives barely joining in. That makes the setup a little healthier than a rally fueled purely by leverage
But let’s pour a little cold water on things
Just last week, around 46 million TON tokens, worth about $81 million, were unlocked for the community
That’s less than 1% of the total supply—not much, but once the buzz around the rebrand fades, the newly circulating tokens become real selling pressure
There was another detail in Basis Desk’s data for the same day: net outflows from exchanges were about $1.28 billion, with far more funds withdrawn than deposited
The money hasn’t fled; it’s just moved from exchanges into custody. When the broader market is grinding out a bottom, big money tends to prioritize safety over speed
So what do I make of this TON rally?
The rebrand narrative plus rising spot volume does give it the makings of an independent short-term run
But the area around $2 is a supply zone up ahead. Whether TON can hold there is the real test
If it can’t, even a 40% gain could vanish in a few days
Would you buy into a rebrand?
Or do you think the name has changed, but the fundamentals haven’t—and this is just emotional trading?
$TON $BTC
#Toncoin #Telegram #Market Watch
Not investment advice. DYOR. Trading involves risk.