GRAM crashes to $1.29 after Telegram's brief Apple Store removal over content violation.

GRAM, the altcoin linked to Telegram, plunged to a three-month low of $1.29 on August 4 after Telegram was temporarily removed from Apple's App Store due to content violating guidelines on nonconsensual media involving children. The app was unavailable for about four hours before being restored after the developer removed the offending content and banned related users. This incident triggered panic selling, with derivatives volume surging 490% and traders opening more short positions, pushing GRAM's price down. Despite strong short-term selling pressure indicated by technical indicators, the concerns have been addressed, suggesting a likely short-lived downturn and potential recovery above $1.40 soon.