• Toncoin price jumped as Bitcoin revisited support below $72,000.
• Bulls took advantage of Telegram-related news of a rebrand to GRAM token to push TON above $2.27.
• If buyers dominate, Toncoin could edge past $3.00 next.

Toncoin rose by nearly 20% and touched highs of $2.27 on Monday, June 1, as traders digested a surprise rebrand announcement from Telegram’s founder.

The gains for TON came even as Bitcoin and major altcoins fell sharply amid institutional capital outflows.

BTC slid to lows near $71,380 after news that Strategy had sold 32 BTC, its first sale since 2022.

Toncoin’s uptick signalled persistent market interest in the Telegram-backed TON blockchain despite broader market weakness.

Toncoin price gains amid GRAM rebrand news

Double-digit gains in TON’s price followed an announcement that the native token of the TON blockchain will be rebranded from Toncoin to “Gram.”

The move, expected to be completed over the next three weeks, will restore a name Telegram had previously abandoned under regulatory pressure from the US Securities and Exchange Commission.

“Gram was the original name of TON’s currency in the first white paper,” Durov wrote. “We’re returning to our roots — and starting a new chapter. This rebranding will pave the way for what comes next.”

The rebrand is part of a “Make TON Great Again” roadmap the company recently published, which includes deeper operational involvement by Telegram.

As part of that plan, Telegram disclosed its intent to become TON’s primary validator.

Investors view this as a shift that could materially affect network security and on-chain activity.

A community vote on the move is live.

Toncoin (TON) -> Gram (GRAM)

Community vote is live.

Since Telegram took a leading role in TON’s development, the chain got 10× faster, fees 6× lower.

And now Telegram proposes one more change: renaming Toncoin to Gram – the name from the original TON White Paper that never…

Advertisement

— TON 💎 (@ton_blockchain) June 1, 2026

As was the case then, Toncoin price rose on Monday as market participants reacted to the rebrand news.

Many see this as a signal of renewed institutional and consumer alignment between Telegram’s user base and TON’s native token.

Telegram serves more than 950 million users worldwide; tying the token more directly to the platform increases the potential utility and distribution vectors for Gram, from in-app payments to token-based services and developer integrations.

Traders interpreted the announcement as positive for token demand, prompting the swift price appreciation even as macro-driven selling pressured broader crypto markets.

Toncoin price outlook: Is a new all-time high next?

Technically, TON’s daily chart shows bullish momentum but with caveats.

The relative strength index (RSI) on the weekly timeframe has climbed to 57, indicating strong buying pressure but approaching overbought territory.

The MACD histogram remains positive, with the MACD line above the signal line, suggesting trend continuation in the short term.

These indicators together point to momentum that could extend the rally while warning that a pullback or consolidation is possible if momentum exhausts.

Key levels to watch

If TON holds above the $2.10 support established during Monday’s session, the next near-term resistance zone sits around $3.00.

As the chart shows, this is a level above which bulls could target traction towards $3.70 (100SMA) and then $6.00. TON’s all-time high is above $8.

On the downside, a decisive breakdown below $2.00 would increase the likelihood of a deeper retracement.

If bears breach lower support levels, losing $1.90 could significantly impact the probability of an immediate push toward previous highs.

Given broader market volatility and ongoing institutional flows, traders should monitor on-chain activity and Telegram’s next operational moves for confirmation that the rebrand materially increases utility and adoption.

Shares of Michael Saylor’s Strategy fell Monday after the company disclosed its first Bitcoin sale since adopting a “never sell” philosophy, prompting fresh scrutiny of the corporate Bitcoin treasury model.

Nasdaq-traded MSTR stock was down more than 6.5% to start off the week before paring back some of that decline by early afternoon on Monday.

Although short-term price action rarely determines broader trends, Strategy’s sale of 32 Bitcoin (BTC) last week challenged the long-held perception that the company would only accumulate BTC and never liquidate its holdings, according to digital asset research and advisory firm Delphi Digital.

“The market learned that Strategy is no longer read as a pure one-way accumulation vehicle,” Delphi Digital said in a Monday commentary. 

Instead, investors may increasingly view the Tysons Corner, Virginia-based business as a leveraged corporate treasury company whose decision-making is shaped not only by its Bitcoin holdings but also by preferred-share dividends, market-to-Bitcoin net asset value (mNAV) dynamics, equity issuance and broader balance-sheet considerations.

The shift has reframed the debate around Strategy’s role in the Bitcoin market. Rather than asking whether the company can sell Bitcoin, investors are now evaluating how to price a company whose BTC reserves may serve as a source of liquidity when financial obligations or capital-management needs arise.

“The old ‘never sell’ meme is now broken in practice, not just in conference call language,” Miami Beach, Florida-based Delphi said.

While the sale represented only a tiny fraction of Strategy’s Bitcoin holdings, Delphi said its significance lies in what it signals about the flexibility of the company’s treasury strategy and its potential impact on Bitcoin market dynamics.

Related: Bitcoin treasury space still has fair share of ‘carnival barkers’: BSTR founder

Strategy says sale supports shareholder value, not shift away from Bitcoin

Despite criticism from some market participants, Strategy executive chairman Michael Saylor framed the sale as part of a broader effort to support STRC, the company’s yield-bearing preferred stock that offers investors income backed by Strategy’s Bitcoin holdings.

According to Saylor, the move reflects a more active approach to balance-sheet management aimed at maximizing shareholder value and improving the company’s Bitcoin-per-share metric — a key measure that tracks how much BTC backs each fully diluted share.

Source: Michael Saylor on X.com

Saylor hinted at the strategy in May, suggesting that selectively managing the company’s Bitcoin holdings could help optimize returns for shareholders. Strategy CEO Phong Le also said selling Bitcoin near the company’s cost basis could reduce potential tax liabilities associated with STRC, benefiting investors in the income-focused security.

The average cost of the company’s holdings is $75,701 per BTC, according to Iceland-registered StrategyTracker.com.

The sale does little to alter Strategy’s broader Bitcoin treasury portfolio. The company remains the world’s largest corporate Bitcoin holder by a wide margin, with more than 843,000 BTC on its balance sheet, according to BitcoinTreasuries.NET.

Related: Crypto Biz: Crypto infrastructure spending rises as ETF appetite cools

The world’s largest public Bitcoin holders. Source: BitcoinTreasuries.NET

Twenty One Capital, a Tether-controlled bitcoin (BTC) treasury company that’s paid Strike’s Jack Mallers to be its spokesperson, has until Friday to comply with an independent director rule under threat of the New York Stock Exchange (NYSE) flagging its stock with code BC, Below Compliance.

It doesn’t help that its stock has lost 83% of its value over the past year.

This morning, Twenty One Capital disclosed the Friday deadline. It’s known about the deficiency for about two weeks, including a formal non-compliance notice it received from NYSE last week.

Although a BC flag by NYSE is a clear warning, it is not an automatic halt or delisting. The company typically receives a time period to regain compliance.

The trigger for NYSE’s warning was Twenty One’s May 19 transaction. On that day, Tether bought out SoftBank’s entire 89,106,748 Class A share position and cancelled its matching Class B shares.

That same deal terminated a governance agreement that had given SoftBank a veto on board composition and other material corporate actions.

SoftBank’s two directors, Jared Roscoe and Vikas Parekh, resigned the same day. 

A group of lawmakers within Japan’s Liberal Democratic Party (LDP) are seeking reforms to the country’s cryptocurrency taxation system, as well as support for initiatives for the development and adoption of yen-denominated stablecoins.

According to a Monday Nada News report, the LDP’s Parliamentary Association for the Promotion of Blockchain delivered recommendations to Finance Minister Satsuki Katayama, including provisions on stablecoins, exchange-traded funds (ETFs), central bank digital currencies (CBDCs), and applications for blockchain technology.

The document proposes doubling the leverage cap for retail cryptocurrency derivatives trading and establishing a framework for ETFs tied to digital assets.

Katayama reportedly responded to the proposals by saying Japan “must move forward without falling behind global developments,” referencing crypto legislation and frameworks in the United States. 

“We must advance initiatives to expand on-chain finance across Asia — including the development and adoption of yen-denominated stablecoins,” LDP member Junichi Kanda said at a Monday press conference.

Finance Minister Satsuki Katayama (second from left) in a December 2024 meeting on Promotion of a Digital Society. Source: LDP

The recommendation came about two months after the Japanese government approved changes to allow classification of crypto assets as financial instruments rather than solely as a method of payment. The country’s financial watchdog, the Financial Services Agency, also reportedly planned to amend its regulatory framework to allow crypto ETFs.

Related: Japan PM Takaichi disavows ‘Sanae Token’ after memecoin hits $28M peak

Japan’s potential entry into the global $320 billion stablecoin market, now dominated by tokens pegged to the US dollar, comes after US lawmakers enacted legislation for a payment stablecoin framework, the GENIUS Act. According to an April report from the Bank for International Settlements, the market capitalization of Japanese yen-denominated stablecoins was less than 0.01% of US dollar-pegged coins.

Source: Pexels

Polymarket reported eyeing Japanese market

Prediction markets platform Polymarket, already facing regulatory scrutiny in the US amid state-level lawsuits and while supported at the federal level, was reportedly looking at approval to operate in Japan by 2030. Japan’s strict laws covering online and in-person gambling could prove a challenge for the company.

Magazine: 50K investors fight Korean crypto tax, Singapore cancels Bsquared: Asia Express

SpaceX has added new IPO filing language that gives the company room to issue large amounts of stock for future deals.

The amended S-1/A filing states that SpaceX may issue a significant amount of equity in connection with future transactions, including acquisitions, divestitures, and other strategic moves. The disclosure gives investors a clearer view of how the company may use its publicly traded shares following a planned Nasdaq debut under the ticker SPCX.

SpaceX adds deal language before listing

According to the updated filing, SpaceX is preparing for an offering that could raise up to $75 billion. The filing pegs the company’s valuation at a minimum of $1.8 trillion, down from earlier internal discussions that had set the target above $2 trillion.

Reuters previously reported that SpaceX was targeting a June 12 listing, with pricing expected around June 11. The company first confidentially submitted its IPO paperwork to the U.S. Securities and Exchange Commission on April 1, according to public filing details cited in the registration statement. SpaceX later made its full S-1 public on May 20.

The amended filing does not say SpaceX has finalized any additional transaction beyond those already disclosed. However, the company’s wording gives it flexibility to issue Class A stock in major corporate moves after the IPO.

Cursor deal shows how shares may be used

The clearest example in the filing is SpaceX’s pending acquisition of Cursor, the AI coding assistant. According to the S-1/A, the transaction is expected to close after the IPO and will be paid entirely in Class A common stock.

The filing places Cursor’s implied equity value at $60 billion. It also says Cursor is entitled to a $1.5 billion termination fee and an $8.5 billion deferred services fee under a separate compute agreement.

Through that structure, SpaceX is telling investors that its public equity may serve as more than IPO fundraising stock. The filing shows the company could use its shares to acquire technology, deepen its AI operations, and expand its post-listing business structure.

SpaceX’s filing describes the company as an AI services and infrastructure business, not only a launch and satellite operator. The wording follows its February 2026 merger with xAI, which valued the combined company at about $1.25 trillion, according to the filing.

The company also outlines planned work with Tesla and Intel through Terafab. According to the registration statement, those plans include modular orbital AI compute infrastructure before the end of the decade.

SpaceX also lists long-term projects tied to asteroid mining and manufacturing infrastructure on the Moon and Mars. The company presents those plans as part of its future market opportunity, although the filing notes that many goals remain subject to execution, funding, and technical risks.

Elon Musk keeps voting control

Regarding ownership, the amended filing states that Elon Musk holds about 42% of SpaceX’s equity and controls 85% of the voting power through a dual-class share structure. As a result, the filing indicates that future equity issuance would not necessarily reduce Musk’s control over the company’s decisions.

The S-1/A also reserves up to 5% of IPO shares for a directed share program covering employees, friends, and family of executive officers. The filing says friends-and-family participants will not face lock-up limits, while more than 60% of pre-IPO shares, including Musk’s holdings, will remain under an extended lock-up after the listing.

Crypto investment products recorded their second-largest weekly outflow of 2026 by the end of May, with investors pulling $1.67 billion from digital asset funds as geopolitical tensions and a broader risk-off mood weighed on markets, according to a report from CoinShares.

The withdrawals marked the third consecutive week of net outflows and brought total redemptions over the past three weeks to $4.21 billion. CoinShares said concerns surrounding Iran had overwhelmed any positive sentiment generated by recent progress on the CLARITY Act, a U.S. crypto market structure bill.

Assets under management across digital asset investment products fell to $141 billion from $148 billion the previous week, their lowest level since early April.

The latest outflows coincide with a sharp decline in crypto prices. Bitcoin fell close to the $70,000 mark on Monday after reports that Iran had halted talks with the United States in protest over Israel’s continued incursions into Lebanon. The move coincided with Strategy (MSTR), the largest holder of bitcoin, selling some of its stack after years of its executive chairman Michal Saylor vowing he wouldn’t do so. The largest cryptocurrency dropped about 3% over the past 24 hour period, adding pressure to digital asset investment products.

The United States accounted for nearly all of last week’s withdrawals, with investors pulling $1.63 billion from crypto funds. Germany, which had largely avoided earlier bouts of selling, recorded $25.7 million in outflows. Sweden and Hong Kong posted withdrawals of $6.6 million and $4.5 million, respectively.

Bitcoin BTC$72,675.37 investment products saw the largest share of the selling, losing $1.44 billion during the week. According to CoinShares, that was the largest weekly bitcoin outflow of 2026, surpassing both the previous week’s record and the peak reached during January’s selloff. Year-to-date bitcoin inflows have fallen sharply to $1.19 billion, down from $2.6 billion a week earlier and $3.9 billion two weeks ago.

Ethereum (ETH) funds also came under pressure, recording $257.3 million in outflows. Meanwhile, investor appetite for alternative cryptocurrencies weakened considerably. CoinShares noted that only five digital assets attracted more than $1 million in inflows, down from 11 assets three weeks ago. XRP (XRP) led with $20.3 million in inflows, followed by Hyperliquid (HYPE) at $10.8 million and Near at $7.6 million.

Despite the recent pullback, crypto investment products still hold roughly $142 billion in assets globally, underscoring how much institutional capital remains invested in the sector even as market sentiment deteriorates.

Vitalik Buterin has proposed an options-based design for crypto index products that could reduce DeFi’s dependence on forced liquidations.

Buterin’s research post, published Monday, set out a model where index-tracking crypto assets use options contracts instead of collateralized debt positions, the structure used across many DeFi lending and synthetic asset systems.

Buterin Proposes Options-Based DeFi Structure

In the post, the Ethereum co-founder asked whether DeFi products could use options as their base layer instead of systems built around debt and liquidation engines. According to Buterin, such a model could allow users to gain exposure to a basket of crypto assets, similar to an index product, without suffering the sudden loss of a position when collateral values fall sharply.

Many DeFi protocols today allow users to borrow against crypto collateral. When collateral drops below a required level, the protocol can automatically liquidate the position. Buterin’s post said this structure can create abrupt outcomes for users and can add pressure during volatile market periods.

Under the options-based design described by Buterin, a user’s exposure would not end through an immediate liquidation event. Instead, the position would gradually move away from its target allocation as market prices change. Buterin presented that difference as a possible way to make crypto investment products less dependent on leverage-based failure points.

Slow Oracles Could Reduce Manipulation Risk

Buterin also linked the proposal to the oracle problem in DeFi. According to his research post, many DeFi applications rely on fast price feeds because liquidation systems need current market prices to decide when positions should be closed.

Those fast feeds can become a weak point when markets move quickly or when attackers try to distort prices. Buterin said an options-based structure could work with slower-moving oracles, similar to the type used in prediction markets.

In his view, slower oracles may reduce the need for protocols to act on price updates within seconds. Buterin also said he would feel much safer holding algorithmic stablecoins built with an options-based design than holding stablecoins that depend on real-time oracles, which could be manipulated.

Algorithmic Stablecoins Remain a Key Use Case

The proposal has clear relevance for algorithmic stablecoins, which have often depended on collateral systems, price feeds, and automated market actions. Buterin’s post did not name a specific stablecoin project, and the model remains theoretical rather than deployed on Ethereum.

Buterin also acknowledged practical limits. According to the post, an options-based system would still require regular portfolio rebalancing. He said it remains unclear whether those trades can happen cheaply enough to avoid high costs, poor execution, or slippage.

The research post comes as Buterin has also changed his plans for publishing long-form work. As previously covered by crypto.news, Buterin said he will stop writing regular blog posts and instead plans to try writing science fiction stories about decentralized governance.

Buterin’s past essays have covered DAOs, Layer 2 systems, voting models, and governance design across crypto and public institutions. In the latest proposal, he returned to a familiar theme, questioning whether DeFi systems can become safer by relying less on fragile automated debt structures.