GRAM Futures Debuts on Hyperliquid: What Traders Need to Know

GRAM (Telegram Open Network [IOU]) has launched on Hyperliquid futures, giving traders another venue to speculate on the token's price. This listing follows a wave of exchange support for the rebranding of Toncoin (TON) to Gram (GRAM), including Binance, Bybit, OKX, Upbit, and Robinhood.

Executive Summary

GRAM is an IOU token representing the Telegram Open Network (TON) project, which aims to build a fast, scalable blockchain integrated with Telegram's messaging platform. The token was originally slated for launch in 2019 but faced regulatory hurdles. Recent exchange listings and a planned rebranding from TON to GRAM have reignited market interest. Hyperliquid now offers GRAM futures trading, providing leveraged exposure.

What Happened: Exchange Listings and Rebranding

Multiple major exchanges have recently listed GRAM or announced support for the TON-to-GRAM rebranding:

• Hyperliquid – GRAM futures listed on July 2, 2026, at ~$1.636.
• Binance – GRAM futures listed on July 2, 2026, at ~$1.569; TON delisting on June 30, 2026.
• Bybit – GRAM futures listed on June 22, 2026, at ~$1.655.
• OKX – GRAM spot trading launched on June 17, 2026, at ~$1.662.
• Upbit – GRAM spot trading launched on June 19, 2026, at ~$1.663.
• Robinhood – GRAM spot trading launched on June 22, 2026, at ~$1.659.
• Bithumb – GRAM spot trading launched on June 15, 2026 (price not available).

The rebranding involves converting TON tokens to GRAM at a 1:1 ratio, with several exchanges delisting TON in late June 2026. BitMEX also delisted TON perpetuals on June 15, 2026, to support the switch.

Note: Brave search results indicate that the original Gram token was never issued after an SEC order. The current GRAM token is an IOU representing future TON blockchain tokens.

Price Action and Volatility

GRAM has experienced notable price swings. On June 23, 2026, GRAM dropped 9.21% over 12 hours on Gate Futures, from $1.726 to $1.567. A 6.99% drop over 6 hours and a 6% drop over 1 hour were also recorded on the same day. The token's price has since recovered slightly, trading around $1.636 on Hyperliquid.

Token Snapshot

• Symbol: GRAM
• Name: Telegram Open Network [IOU]
• Category: Coin (IOU)
• Date Added: October 2, 2019
• Platform: None (IOU token)
• Infinite Supply: No
• Tags: IOU

Risk Notes

• Regulatory Risk: The original Gram token was halted by the SEC. The current IOU status carries legal uncertainty.
• Rebranding Risk: The TON-to-GRAM conversion is ongoing; token mechanics may change.
• Volatility: Recent double-digit drops highlight high short-term risk.
• Liquidity: As a tier-3 listing on Hyperliquid, liquidity may be lower than major pairs.

Where to Trade

GRAM futures are available on Hyperliquid. For automated trading strategies, consider using our bot.

Trade with our bot