Toncoin experienced a 3.12% decline to approximately $1.34 as TON reached the final shutdown date for one of its older cross-chain bridges. According to reports from AMBCrypto, the bridge closure does not affect the TON chain's network itself or user-held TON coins in wallets, but specifically targets wrapped assets introduced through the bridge being terminated. The bridge was used by users to transfer crypto assets between the TON Mainnet, Ethereum and BNB Smart Chain blockchain networks.
As reported by AMBCrypto, TON announced that Toncoin and Token Bridge would close permanently on September 1, 2025. When Toncoin leaves the native blockchain, users receive its wrapped token versions, symbolised by the original version of their crypto assets, rather than the actual crypto assets. TON Status advised wrapped Toncoin holders on Ethereum or BNB Smart Chain to convert back to TON before the deadline. The bridge outflow into other networks eventually stopped in May 2025, but the return path remained open to avoid holding current users' funds before the shutdown.
According to AMBCrypto, Toncoin started trading at $1.39 and topped $1.41 before hitting $1.33, wiping out some of its recovery from late August when it approached $1.50. The token has seen significant buying activity around $1.30 in recent weeks, with this area potentially allowing the price to settle and make another attempt at $1.40. A fall below $1.30 would take the price back to the $1.20 range, while the recent peak around $1.50 remains the bigger obstacle for future gains.
As reported by AMBCrypto, there is no evidence that the bridge closure caused the price drop because the shutdown was announced months in advance. The wider market conditions may have contributed to the session's decline, with demand appearing to weaken but showing less heavy selling compared to earlier price declines. The network recently renamed its native coin from Toncoin to Gram [GRAM], though some exchanges and charts continue to display the TON ticker.
