Bitcoin climbed 1.5% to $63,800 on 10th of July in a market stuck in a strange place: down roughly 50% from its high, its aggressive buyers quiet for five weeks, and the usual capitulation sellers still missing.

CoinShares set a 12-month base-case target of $3.50 on Gram (GRAM), previously known as Toncoin, in a report by research head James Butterfill, built when the token traded at $2.40. Gram now changes hands near $1.60, having surrendered the entire rally triggered by Telegram's takeover of the network.

Learn more about crypto and blockchain technology.

Glossary