GRAM Token Price Whipsaws Amid Apple-Telegram App Store Incident
The GRAM token experienced significant price fluctuations after Apple temporarily removed Telegram from its App Store. The incident occurred on August 4, when user-generated content that violated Telegram's rules was discovered. As a result, the GRAM price dropped by over 6% to $1.297 before rebounding to $1.3818 after Telegram removed the content and Apple restored the app.
The price turbulence highlights the regulatory risks surrounding Telegram and the GRAM token. Despite strong fundamental support from Pavel Durov's direct backing, the asset remains vulnerable to external factors.
Another significant development is the introduction of XRP-backed loans through the RLUSD stablecoin. Flare's wrapped FXRP token has been approved as collateral in Sentora's $280 million lending vault on Morpho Blue, allowing large XRP holders to borrow Ripple's regulated RLUSD stablecoin without selling their tokens.
CryptoQuant's UTXO Age Bands data indicates that Bitcoin is currently deeply undervalued. The share of 'young' capital has fallen to a critical low, suggesting that casual speculators and retail investors have lost interest in crypto. This pattern has been observed at the bottom of previous cycles, with Bitcoin's supply now controlled by long-term holders.