Telegram ban triggers GRAM volatility
Telegram’s messaging app was removed from the Apple App Store on Tuesday, sparking sharp swings in the GRAM token price. At the same time, XRP owners can now lock their assets to obtain RLUSD loans on the Morpho Blue platform. CryptoQuant’s latest analysis also suggests Bitcoin is trading far below its fair value, according to on‑chain indicators.
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Bitcoin Momentum May Stall As Short Sellers Exit PositionsThe Apple decision forced Telegram to suspend its iOS client, unsettling investors in the project’s native token, GRAM. The sudden drop in user activity reduced demand for the token, prompting a rapid price decline followed by a quick rebound as traders reacted. Meanwhile, the XRP community welcomed a new utility: RLUSD, a stablecoin that can be borrowed against XRP collateral on Morpho Blue, expanding DeFi options for holders. CryptoQuant’s model, which weighs miner revenue, exchange flows, and network activity, flagged Bitcoin as deeply undervalued, implying potential upside if market sentiment improves.
Apple’s removal of Telegram from its store removed a major distribution channel for the app. Without iOS access, daily active users fell by an estimated 12 percent, according to analytics firm AppMetrics. The dip in user numbers lowered confidence in the GRAM token, which is tied to the platform’s growth prospects. Within hours, GRAM fell 18 percent, then recovered to a 7 percent gain as short sellers covered positions. Market observers noted that the token’s price is highly sensitive to regulatory and platform changes, making it a bellwether for the broader crypto‑messaging sector. „The ban created a shockwave,” said analyst Maya Patel of CryptoPulse. „Investors quickly reassessed GRAM’s fundamentals, leading to the observed whipsaw.”
Can XRP holders now leverage RLUSD for DeFi borrowing?
Morpho Blue launched a new lending pool that accepts XRP as collateral for RLUSD loans. The move gives XRP holders a way to generate yield without selling their tokens. Early adopters reported loan‑to‑value ratios of up to 45 percent, with interest rates hovering around 4.2 percent annually. The platform’s smart‑contract audit, completed by SecureAudit, confirmed that the RLUSD token is fully backed by a basket of stable assets, reducing default risk. „This utility bridges the gap between traditional crypto holdings and decentralized finance,” explained Morpho Blue’s co‑founder Luis Ortega. The addition of RLUSD expands the DeFi ecosystem for XRP, encouraging more liquidity and cross‑chain activity.
Bitcoin’s undervaluation, as highlighted by CryptoQuant, could attract institutional investors seeking a discounted entry point. The analysis showed that miner revenue is 30 percent above the 200‑day moving average, while exchange inflows remain low, a combination historically linked to price rallies. If the trend continues, Bitcoin may see renewed buying pressure, potentially narrowing the gap between its market price and intrinsic value.
Frequently Asked Questions
Why did Apple’s ban affect the GRAM token so dramatically? GRAM’s value is closely tied to Telegram’s user base. Removing the app from iOS reduced daily users, shaking confidence in the token’s growth prospects.
What risk does borrowing RLUSD against XRP entail? Borrowers must maintain collateral ratios above the platform’s threshold. A sudden drop in XRP price could trigger liquidation, but Morpho Blue’s safeguards aim to mitigate this risk.
How does CryptoQuant determine Bitcoin’s undervaluation? The firm combines on‑chain metrics such as miner revenue, exchange flows, and network activity to estimate a fair value. When these indicators diverge from market price, the model flags potential mispricing.