Telegram's Gram Wallet Rollout Sparks Price Surge in GRAM
The Gram cryptocurrency (GRAM) saw a price surge of around 3% in the last 16 hours, largely driven by the rollout of Telegram's new Gram Wallet inside the Telegram app.
The wallet launch is seen as a major catalyst for GRAM usage, with multiple traders calling it 'one of the biggest catalysts TON has been waiting for'. The wallet will become the default crypto wallet in user settings, supporting fee-free transfers, payments, and Telegram Collectibles.
Following the rollout news, intraday trading behavior in GRAM became aggressive, with some observers noting a 14-15% pump attributed to the 'Gram (TON) Wallet Update'. However, others warn that this move was stretched, with price prints up around +7.9% and RSI in the 70s.
The market reaction to the wallet launch was not uniform, with some traders calling for a 'buy the juicy dip' after an initial reaction that framed the launch day as a 'sell the news' event.