Telegram's Brief Exit Triggers GRAM Crash: Altcoin Tumbles to 3-Month Low

On August 4th, GRAM experienced significant price volatility and plummeted to its lowest point in three months. The altcoin's value dropped to $1.29, a level not seen since late April.

The sharp decline was triggered by reports that Telegram had been temporarily removed from the Apple App Store due to content guidelines violations. Although existing installations continued to function, the removal sparked panic among investors and led to a surge in sell-side trading activity.

Derivatives data showed a 490% increase in GRAM's volume on CoinGlass, with Open Interest rising 1.2%. The Long/Short Ratio dropped below 1 on OKX and Binance, indicating traders turned bearish and opened short positions.

Following the restoration of Telegram to the App Store after its developer removed violating content, GRAM rebounded slightly, recovering $1.38 at press time. However, experts warn that downside momentum remains strong, with indicators suggesting a potential failure to hold the $1.30 level if pressure persists.