Toncoin (TON) climbed more than 5% over the past 24 hours as of June 02, 2026 07:15 AM UTC, outperforming a broadly weaker cryptocurrency market after Telegram founder Pavel Durov announced plans to rebrand the network’s native token from Toncoin to Gram (GRAM).
TON was trading at $2.05 at publication, up 5.3% in 24 hours, while daily trading volume surged to $763.7 million, representing a 129% increase from the previous day. The token’s market capitalization rose to approximately $5.48 billion, keeping TON among the top 20 cryptocurrencies by market value.
Rebranding News Drives Market Interest
The latest rally follows Durov‘s announcement that Toncoin will revert to its original “Gram” branding within the next three weeks. The move forms part of Telegram’s broader “Make TON Great Again” roadmap and has been interpreted by traders as another sign of Telegram’s growing commitment to the ecosystem. The transition will not require any token swap or migration, with the blockchain continuing to operate as TON while only the native currency branding changes to Gram (GRAM).
The announcement triggered a sharp increase in trading activity, with TON recording one of the strongest performances among large-cap cryptocurrencies despite mixed sentiment across the wider digital asset market.
The proposal has also received strong early community backing, with roughly 1.8 million TON, representing nearly 80% of active votes, supporting the rebrand proposal. Volume-to-market-cap ratio climbed to 13.86%, indicating elevated trader participation and stronger liquidity during the rally.
TON Outperforms Broader Crypto Market
While several major cryptocurrencies posted modest gains or traded sideways, TON attracted significant capital inflows following the rebranding announcement. The token briefly pushed above key resistance levels during intraday trading before consolidating near the $2.00 mark. Market participants appear to be pricing in expectations of deeper Telegram integration and additional roadmap announcements in the coming weeks. The latest move also reinforces the bullish momentum seen in late May, when Toncoin (TON) Holds Above $1.90 on May 27, 2026, despite broader market volatility, signaling continued buyer interest ahead of the Gram rebranding announcement.
The Gram rebrand represents the fourth step in Durov’s seven-stage “Make TON Great Again” roadmap, following recent upgrades including Catchain 2.0, a sixfold reduction in transaction fees, and Telegram’s emergence as the network’s largest validator. The rally extends TON’s recovery from lows near $1.30 recorded earlier this year, although the asset remains significantly below its all-time high.
Technical Levels to Watch
From a technical perspective, TON faces immediate resistance around the $2.08-$2.11 range, an area that coincides with recent Fibonacci retracement levels and short-term profit-taking zones. A sustained move above this region could open the door toward the $2.50-$2.80 range, where sellers previously emerged during May’s rally.
On the downside, analysts are watching the $1.93 support level, followed by stronger support near $1.80. A break below those levels could weaken short-term momentum and increase the likelihood of a retracement toward the $1.67 area. Momentum indicators remain constructive, with buying activity accelerating alongside volume rather than declining during the move.
Token Unlocks Remain a Key Variable
Despite the bullish reaction, traders continue to monitor TON’s token supply dynamics. Approximately 46 million TON tokens, valued at around $81 million, were recently unlocked for community distribution. Even as supply-related concerns remain on investors’ radar, sentiment has been supported by the belief that Telegram Takes Over TON through its expanding role in network development, validation, and ecosystem growth initiatives.
While the unlock represents less than 1% of total supply, additional circulating tokens could create intermittent selling pressure if demand slows after the rebranding-driven excitement fades. For now, however, rising volume and positive sentiment surrounding the Gram transition remain the dominant drivers of price action.
FAQs
1. Why is the Toncoin price rising today?
TON is rising primarily because of Telegram founder Pavel Durov’s announcement that the token will be renamed Gram, reviving its original branding and strengthening the Telegram integration narrative.
2. How much trading volume did TON record?
TON generated approximately $763.7 million in 24-hour trading volume, representing a 129.5% increase from the previous session.
3. What are the key support and resistance levels?
Support is located near $1.93 and $1.80, while resistance is concentrated around $2.10-$2.30 and later near $2.80.
4. Can token unlocks affect TON’s price?
Yes. Ongoing monthly token unlocks increase circulating supply and could create selling pressure if network demand does not grow fast enough to absorb the new tokens.
