Gram Breaks Out of Downtrend, Eyes $1.80 Target

The Gram cryptocurrency has broken out of its multi-month downtrend and is trading at a three-month high, fueled by renewed chatter about self-custodial wallets.

According to recent data, the altcoin climbed to $1.63 before retracing, with prices currently hovering around $1.58, up 10% on the daily charts. The spot volume has surged 130% to $215 million, while the daily turnover has risen to $71 million, suggesting strong buying pressure in the market.

The catalyst for this upward move is attributed to the expected rollout of self-custodial wallets to over one billion users, which is expected to create a long-term boost for the token. The altcoin's open interest and derivatives volume have also seen significant increases, indicating higher participation from traders.