Gram, the token rebranded from Toncoin, spent Monday defending the psychologically important $1.00 level after a single-day slide of more than 4% pushed the asset beneath two widely watched moving averages.

Market data compiled at 06:12 UTC showed the Gram price down 4.53% over the previous 24 hours, leaving the token just above the round-number threshold of $1.00. Round-number levels tend to draw outsized attention because traders commonly cluster orders and alerts around them, and a drop below widely tracked moving averages is often read by market participants as a short-term momentum signal — though neither marker guarantees support or a reversal.

Gram is the native token of The Open Network (TON), a layer-1 blockchain whose origins trace back to Telegram's Telegram Open Network project. The name Gram was the original working title for that token before Telegram withdrew from the project in 2020 amid litigation with the U.S. Securities and Exchange Commission, after which independent developers continued building the network and its token, subsequently known as Toncoin.

With the token sitting just above $1.00 and beneath both moving averages as of the 06:12 UTC snapshot, the near-term focus for observers is whether the round-number level holds through upcoming trading sessions and whether price can climb back above the technical markers lost during the slide.

This content was first published on COINOTAG: https://en.coinotag.com/gram-holds-above-1-00-after-45-slide