Telegram's iOS removal pressures GRAM while Solana gains on BlackRock tokenization plans

On Tuesday morning, Apple removed Telegram from its iOS App Store worldwide without explanation from either company. The move sent immediate ripples through the crypto market, particularly for GRAM, the token tied to Telegram's ecosystem. By press time, GRAM had fallen 3 percent, touching $1.29 earlier in the session as traders absorbed the news of the app's disappearance from the world's largest mobile platform.

The technical picture for GRAM tells a story of sustained selling pressure. The token is tracing a falling wedge pattern on its daily chart, a formation that typically precedes further downside. The Relative Strength Index sits around 37, signaling firm bearish momentum with room to fall before reaching truly oversold territory. For GRAM to stabilize, traders are watching for a decisive close above $1.44, which would open the path toward $1.53 and $1.71. On the downside, a sustained close below $1.29 would confirm a bearish breakout, with critical support levels at $1.23 and $1.05 serving as the next line of defense.

While GRAM struggled, Solana found itself buoyed by a series of institutional and ecosystem developments. BlackRock filed with the Securities and Exchange Commission to launch tokenized fund shares on the Solana network, specifically a Daily Reinvestment Stablecoin Reserve Vehicle designed to boost stablecoin reserves on the blockchain. The filing signals serious institutional interest in Solana as infrastructure for traditional finance products. Simultaneously, a governance proposal called Double Disinflation went live, aiming to reduce long-term selling pressure by doubling the disinflation rate from 15 percent to 30 percent. The proposal requires 10 percent of active stake to advance to a full governance vote.

The Solana ecosystem itself is experiencing a surge in speculative activity. A memecoin called Cate reached a market capitalization of $73 million within eight days of launch, with $40 million in 24-hour trading volume. This kind of activity, while inherently risky, reflects renewed appetite for risk and experimentation on the network. SOL itself remains in a mixed near-term posture, trading below both its 50-day exponential moving average at $75.63 and its 200-day EMA at $91.19. The token sits beneath a downward resistance trendline at $75.81, suggesting recent bounces remain capped. The Relative Strength Index hovers around 46, maintaining a neutral tone, while the Moving Average Convergence Divergence indicator sits marginally below its signal and zero lines, hinting at subdued momentum. For SOL to sustain a recovery, it must clear the 50-day EMA at $75.63, which would open the path toward the 200-day EMA at $91.19. A close below the descending support trendline near $71.50 would extend the decline toward the February 6 low of $67.50.

Algorand emerged as the day's top performer, extending a 5 percent gain from the previous day. The token rebounded from a recent record low of $0.0757 and now trades above its 50-period EMA at $0.0875, a level that now underpins a constructive near-term bias. The broader trend remains constrained by the 200-period EMA at $0.1096. Momentum indicators show early signs of recovery: the Moving Average Convergence Divergence has risen above its signal line with a positive histogram reading, while the Relative Strength Index climbed to 63, approaching overbought territory. These signals suggest firm bullish pressure in the short term. Initial resistance sits at the May 8 high of $0.1000, with the broader structural barrier at $0.1096. The immediate pivot on the downside is the 50-period EMA at $0.0875, where a pullback could attract buyers as long as the daily close holds above it.