Telegram’s Toncoin Rebrands to Gram, Market Reacts Positively
- Telegram CEO Pavel Durov announced that Toncoin will be rebranded as Gram, its original planned name.
- The Open Network will retain its TON branding despite the token name change.
- The rebranding process is expected to take approximately three weeks.
- Following the announcement, TON’s price surged over 13% in one day to $2.12, peaking at $2.26 earlier.
- TON has increased about 58% in the last month but remains down approximately 74% from its peak of $8.25 in early 2024.
Telegram is reviving its original vision for its cryptocurrency by renaming Toncoin to Gram, a move that aligns with their strategy to regain control of The Open Network and streamline operations under Telegram’s leadership.
This strategic shift has been positively received by the market, as evidenced by a significant increase in TON’s price following the announcement of the rebranding initiative led by Telegram CEO Pavel Durov. Source
