Pavel Durov said Gram is the only token up in a red market, pointing to its Telegram integration as a key advantage.
Telegram founder Pavel Durov posted on X that Gram (the native token of The Open Network) was the sole cryptocurrency to post gains on November 11, climbing about 8% while most major assets fell. Durov linked the token’s outperformance to its integration with the Telegram messenger and called it “ridiculously undervalued.”
According to CoinGecko data cited by CryptoPotato, Gram traded near $1.12‑$1.15 and posted an 8.6% increase over the previous 24 hours, with a 50% jump in trading volume to roughly $113 million. The token’s market capitalization is now around $3.2‑$3.3 billion, placing it at rank 29 on CoinMarketCap. U.Today notes a slightly lower 4.5% rise in the same period, but both sources agree Gram is among the best‑performing assets in a broadly bearish market.
In June, the project renamed its native token from Toncoin (TON) to Gram after an 81.22% vote in favor, restoring the original branding. Telegram is also promoting a self‑custodial Gram Wallet that enables users to send crypto directly within the messenger. Durov said more than 700,000 such wallets were created in a 48‑hour window as of Nov. 9, and the company is working on auto‑activation features to simplify onboarding.
Nasdaq‑listed TON Strategy disclosed holdings of about 235.1 million Gram tokens at the end of Q3 and reported quarterly revenue of $13.1 million on Nov. 10, indicating growing institutional exposure. Despite Gram’s short‑term gain, CryptoPotato notes the token remains down roughly 8% over the past two weeks and 21% from a month ago, with a 46% loss over the last year from its July 2024 all‑time high of $8.25.
Analysts will monitor whether Gram can sustain its rally as broader market pressure continues, especially given recent U.S. inflation data that has kept Bitcoin below $74,000. Additional metrics to watch include wallet activation rates, trading volume trends, and any further institutional purchases that could influence Gram’s market cap and ranking.
Durov attributes the gain to Gram’s built‑in connection to the Telegram messenger, giving it a unique social‑ecosystem advantage.
Gram is ranked around 29th on CoinMarketCap, with a market cap of roughly $3.2‑$3.3 billion.
Telegram reported more than 700,000 self‑custodial wallets were opened within a 48‑hour period as of November 9.
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