Toncoin slid toward $1.30 on Monday as TON reached the final shutdown date for one of its older cross-chain bridges. The closure affects only wrapped assets introduced through the bridge, not the TON network itself, native TON wallets, or the native asset.
TON announced that Toncoin and Token Bridge would close permanently today, ceasing operations from September 1 onward. The bridge had enabled users to transfer crypto assets between the TON Mainnet, Ethereum, and BNB Smart Chain. When Toncoin left the native blockchain, users received wrapped token versions, not the actual assets.
TON Status advised wrapped Toncoin holders on Ethereum or BNB Smart Chain to convert back to TON before the deadline. Outflows into other networks had stopped in May 2025, but the return path remained open to avoid trapping user funds before shutdown.
The bridge is being retired due to alternative transfer solutions and the presence of native USDT, which removed the need for wrapped stablecoin bridges on TON. The network recently renamed its native coin from Toncoin to Gram [GRAM], although some exchanges and charts still display the TON ticker.
Toncoin traded near $1.34 at press time, down 3.12% during the session. It opened at $1.39, peaked at $1.41, then dropped to $1.33, erasing part of the recovery toward $1.50 seen in late August. Buyers have shown repeated activity around $1.30 in recent weeks, and holding that level could allow the price to stabilize and make another attempt at $1.40.
Toncoin daily price chart
A break below $1.30 could send the price back to the $1.20 range, a level previously traded. If buyers return, the recent peak near $1.50 remains a larger resistance. Chart data also shows weakening demand, though heavy selling seen in earlier declines is absent.
There is no evidence that the bridge closure caused the price drop, as the shutdown was announced months in advance. Broader market conditions may have contributed to the session's decline. TON's legacy bridge reached its permanent shutdown on September 1. Toncoin fell 3.12% to about $1.34, leaving $1.30 as the nearest support to watch.