Telegram founder Pavel Durov posted on X that Gram rose 8% while other major cryptocurrencies declined, positioning the token as the sole gainer during a market-wide sell-off. Durov attributed the performance to Gram's integration with Telegram, arguing the token holds a serious advantage over cryptocurrencies lacking an existing social media ecosystem. Gram trades near $1.15, up 4.5% in 24 hours, with a market capitalization of roughly $3.28 billion, ranking 29th among digital assets. Durov reported 700,000 self-custodial Telegram wallets created within 48 hours on Nov. 9, and predicted Gram will eventually break into the top three by market cap, calling it "still ridiculously undervalued" at its current price. The token was renamed from Toncoin in June after 81.22% of votes backed the change, restoring the name originally proposed for Telegram's blockchain project.
Durov Claims Gram Outperformed During Market Decline
Pavel Durov posted on X that Gram was the only token trading higher during a market-wide sell-off, writing "Crypto's a sea of red. Only Gram is up +8%." The billionaire entrepreneur framed Gram as deserving of a place among the three largest digital assets and predicted it will eventually break into the top three by market cap. Market data puts the Gram price near $1.15, up 4.5% over the last 24 hours, with a market capitalization of roughly $3.28 billion, enough for 29th place among digital assets. The 4.5% reading is smaller than the +8% Durov cited, the difference pointing to different measurement windows. The token produced a session in which it rallied 10% in a day on a 28.67% volume surge. Several altcoin gainers outpaced the Telegram-linked token over the same window, with Bitway (BTW) up 18.8%, Lighter (LIT) up 10.8% and Internet Computer (ICP) up 8.2%.
Toncoin Renamed Gram in June After 81.22% Vote
The native cryptocurrency of The Open Network completed its switch from Toncoin to Gram in June after 81.22% of votes backed the change, a decision that restored the name originally proposed for Telegram's blockchain project. Holders faced no action: the Toncoin rebrand required no token swap, and balances carried over unchanged. The rename set the stage for the adoption push that now anchors Durov's case. Telegram is working to increase adoption of its native self-custodial wallet, in which the user rather than a service controls the wallet address, letting people send crypto directly inside the messenger. Self-custody keeps the keys with the user rather than with Telegram, positioning the messenger as an interface rather than a custodian.
Telegram Activated 700,000 Gram Wallets Within 48 Hours on Nov. 9
On Nov. 9, Durov reported 700,000 Gram wallets activated on Telegram within 48 hours, adding that users can obtain Gram through wallet auto-activation, without complex activation procedures. Each activated account is a potential holder, and auto-activation removes the technical steps that previously filtered out casual users. Nasdaq-listed TON Strategy disclosed that it held about 235.1 million GRAM tokens at the end of Q3, and the company reported $13.1 million in quarterly revenue on Nov. 10. Together, the rename, the wallet growth and the treasury position form the substance behind the founder's confidence: a messaging platform converting its user base into self-custodial users, and a listed vehicle accumulating the asset behind them.
Gram Ranks 29th With $3.28 Billion Market Cap
Market data places GRAM 29th at roughly $3.28 billion in capitalization. Durov's post names no timeframe or path from there to the top three. The primary record establishes concrete data: a decisive 81.22% rename vote in June, more than 700,000 wallets created in 48 hours, and a Nasdaq-listed treasury holder reporting a 235.1 million GRAM position alongside $13.1 million in quarterly revenue. The top-three target itself remains Durov's, offered without a deadline.
FAQ
What did Pavel Durov say about Gram on X?
Pavel Durov posted on X that Gram rose 8% while other major cryptocurrencies declined, calling it the only token trading higher during a market-wide sell-off. He predicted Gram will eventually break into the top three by market cap and called it "still ridiculously undervalued" at its current price.
When was Toncoin renamed to Gram?
The native cryptocurrency of The Open Network completed its switch from Toncoin to Gram in June after 81.22% of votes backed the change. The rename required no token swap, and balances carried over unchanged.
How many Gram wallets were activated on Telegram on Nov. 9?
On Nov. 9, Pavel Durov reported 700,000 Gram wallets activated on Telegram within 48 hours. Users can obtain Gram through wallet auto-activation, without complex activation procedures.
