Coinbase Futures Delists TON: What Traders Need to Know

Coinbase Futures has delisted Toncoin (TON) perpetual contracts, marking a significant shift for one of the top layer-1 tokens. This action follows similar moves by Bybit and KuCoin, creating a complex landscape for TON traders. Here’s what you need to know.

What Happened?

On June 16, 2026, Coinbase Markets announced the delisting of TON perpetual futures contracts. This is a tier-1 alert, indicating high market relevance. The delisting comes amid a broader trend: Bybit delisted its TONUSDT perpetual on June 11, and KuCoin Futures will delist its TONUSDT contract on June 15, 2026, citing a rebranding of Toncoin to GRAM. KuCoin Earn also delisted TON products effective June 12, 2026.

Note: These delistings affect only futures/derivatives products. Spot trading on Coinbase and other exchanges remains unaffected for now.

Market Context

Toncoin has seen notable volatility recently. Price alerts from Gate Futures show spikes of up to 16.5% in a single day (June 1, 2026), though the token has also experienced sharp pullbacks. At the time of the Coinbase delisting announcement, TON was trading around $1.66, down from recent highs near $2.21. The token’s 24-hour trading volume exceeds $936 million across 881 active markets, underscoring its liquidity despite the derivative delistings.

Adding to the narrative, a CoinDesk report from November 2025 noted that Nasdaq flagged a rule violation in a $273 million TON purchase by a major holder, though the exchange cited no intent to evade compliance. This event, combined with the rebranding to GRAM, suggests ongoing structural changes within the TON ecosystem.

Token Snapshot

• Symbol: TON
• Name: Toncoin
• Current Supply: ~5.17 billion TON
• Circulating Supply: ~2.70 billion TON
• Last Known Price: $1.8427 (up 34.11% in 24 hours at time of data)
• Category: Layer-1, PoS
• Key Tags: FTX Bankruptcy Estate, DWF Labs Portfolio, Binance Ecosystem
• Explorers: TONScan, Etherscan
• Official Website: ton.org

Risk Notes

• Futures Delisting Wave: The removal of TON perpetuals from Coinbase, Bybit, and KuCoin reduces derivative liquidity and may increase spot price volatility.
• Rebranding Uncertainty: The transition from TON to GRAM on KuCoin adds confusion and may affect token recognition.
• Regulatory Scrutiny: The Nasdaq flagging incident highlights potential compliance risks for major holders.
• Infinite Supply: TON has no maximum supply cap, which could dilute value over time.

Where to Trade TON

Despite the futures delistings, TON remains actively traded on spot markets. For automated trading strategies, consider using our bot: Trade with our bot.