Telegram founder Pavel Durov pointed to Gram as a rare gainer during a broad crypto sell-off. In an X post, he said crypto was a sea of red and that only Gram was up 8%. The claim fits his long-running support for the TON token, now called Gram after a June rename. But market data gives a more mixed picture.
Price move and market context
Gram traded near $1.15 at the time of writing, according to CoinGecko. It was up about 4.5% over 24 hours, with a market cap near $3.28 billion and a rank around 29th. That makes it one of the stronger large-cap performers, perhaps, but not the only coin in green. Bitway was up 18.8%, Lighter rose 10.8%, and Internet Computer gained 8.2% over the same period. So Durov’s “only Gram” line is more rallying cry than full market snapshot.
Why Durov sees an advantage
Durov argued Gram benefits from its direct link to Telegram. He said the token has an edge because it sits inside an existing social messaging service, rather than starting from scratch. He also said Gram remains “ridiculously undervalued” and repeated his view that it should rank among the top three digital assets by market cap. That is a bold target. Gram is currently far from that level, and crypto rankings can shift quickly.
Wallet growth and institutional interest
Telegram’s crypto products have seen activity. In June, TON’s native coin changed its name to Gram after a vote, with 81.22% in favor. Users did not need to swap tokens. Telegram is also pushing its self-custodial Gram Wallet for sending crypto inside the messenger. On Nov. 9, Durov said more than 700,000 self-custodial wallets had been created in 48 hours. He said wallet auto-activation can make getting Gram easier. There is institutional attention too. Nasdaq-listed TON Strategy said it held about 235.1 million Gram tokens at the end of Q3 and reported $13.1 million in quarterly revenue on Nov. 10.
For now, Gram’s relative strength stands out. Whether that turns into a top-three market cap position is another question. Durov’s optimism is clear, but the data suggests investors should separate the narrative from the full market picture.
