AI · Decrypt
TON Price Pumps After Telegram CEO Confirms Token Will Be Rebranded to Gram
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
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Years after abandoning its crypto network plans in the face of regulatory scrutiny, Telegram has taken control of The Open Network —and now plans to embrace the original planned name for the Toncoin (TON) token.
Key facts
- At the current price, TON is up about 58% in the last month, but is still down about 74% from a peak price of $8.25 set back in 2024 during the Telegram crypto gaming craze that spawned short-lived
- The market appeared to respond positively to Durov's announcement, with the price of TON jumping more than 13% in the last day to a recent price of $2.12
- On Monday, Telegram CEO and co-founder Pavel Durov wrote on his official channel that Toncoin will be rebranded as Gram, the original proposed name for Telegram's native token before the project
- Durov said that The Open Network will retain its TON branding, despite the token name shift, and that the process would take about three weeks
Summary
Durov said in May that Telegram would take the reins from The TON Foundation as the primary driver behind the network. On Monday, Telegram CEO and co-founder Pavel Durov wrote on his official channel that Toncoin will be rebranded as Gram, the original proposed name for Telegram's native token before the project was scrapped and taken over by community developers. "Gram was the original name of TON’s currency in the first white paper," he wrote. Durov said that The Open Network will retain its TON branding, despite the token name shift, and that the process would take about three weeks.