Pavel Durov argues that Telegram’s integration gives GRAM a valuation advantage over competing cryptocurrencies. A top-three market capitalization ranking could require a more than 17-fold in
GRAM climbed 6.7% on November 12 as Telegram founder Pavel Durov renewed his bullish outlook for the cryptocurrency, predicting it would eventually rank among the world’s three largest digital assets.
At the time of writing Toncoin trades near $1.25. The recovery followed a prolonged decline that brought prices toward $1.00 earlier in November.
The rally coincided with Durov’s announcement that more than one million self-custodial wallets had been activated through Telegram within 48 hours, drawing attention to the messaging platform’s growing role in cryptocurrency distribution.
In a statement published through his official Telegram channel, Durov described GRAM as “ridiculously undervalued” and argued that its integration into a major social platform distinguishes it from other digital assets.
He predicted that the cryptocurrency would eventually enter the top three by market capitalization, without providing a price target or timetable.
Based on an estimated market capitalization of $3.4 billion, GRAM would need to appreciate approximately 17.6 times to reach a $60 billion valuation. A $100 billion market capitalization would require a 29.4-fold expansion, assuming its circulating supply remained unchanged.
Neither scenario guarantees a top-three ranking, since competing cryptocurrencies’ valuations would also change.
The scale of the required increase places Durov’s prediction in perspective. Telegram provides an established distribution channel, but the cryptocurrency’s valuation ultimately depends on investor demand, network activity and the economic role of its native asset.
GRAM is the renamed native cryptocurrency of The Open Network, whose blockchain continues to use the TON name.
The June 2026 rebranding replaced the previous Toncoin designation and TON ticker with Gram and GRAM.
According to Crypto.com’s official announcement, eligible balances were converted at a 1:1 ratio, with the exchange completing the transition on June 26.
The change did not introduce a new blockchain or create a separate native token.
GRAM continues to support network transaction fees, staking and validator operations. Historical Toncoin market data therefore remains relevant when evaluating the renamed asset’s performance.
Durov said more than one million self-custodial Gram walletshad been activated through Telegram over a two-day period.
The announcement followed an earlier update reporting more than 700,000 activations within a similar rolling window.
According to Durov, a wallet activates when a user receives GRAM, removing several steps normally associated with setting up a cryptocurrency wallet.
The mechanism allows rapid distribution across Telegram’s existing audience, although the reported figures do not distinguish first-time recipients from users who subsequently conduct additional transactions.
That distinction is important for evaluating the network’s economic activity.
A meaningful assessment would require data on repeat transfers, transaction fees and the proportion of newly activated wallets retaining or spending their balances after the initial distribution.
The reported activation totals do not provide those measurements.
The daily GRAM/USD chart shows a recovery from the downtrend that developed following the cryptocurrency’s late-September rally.
GRAM rebounds from recent lows as buying momentum strengthens. Chart by Alexander Zdravkov, TradingView.
Successive lower highs characterized the decline through October, before selling pressure carried prices toward the psychological $1.00 level in early November.
Buyers subsequently drove a rebound of approximately 24.8% from that reference point, pushing GRAM above the descending trendline that had defined the previous bearish structure.
The breakout marks a change in short-term price behavior, although the broader reversal still requires confirmation through sustained trading above the former trendline.
The $1.17–$1.20 area represents a potential near-term support region based on recent price activity. A retreat toward the broken trendline would test whether the former downward boundary can support the recovery.
A return to $1.00 would undermine the improving structure and place the November low back in focus.
The 14-day relative strength index has climbed to 54.38, compared with its moving average of 35.44.
The nearly 19-point spread reflects a rapid recovery after RSI recently fell below the conventional oversold threshold of 30.
The indicator’s move above 50 accompanies the price breakout, strengthening the evidence that buying momentum has improved.
However, the rebound has unfolded over a relatively short period, and a sustained recovery would require buyers to defend the gains during subsequent trading sessions.
Telegram’s integration gives GRAM access to a large existing user base without requiring a separate application for initial wallet activation.
That infrastructure may reduce barriers to cryptocurrency adoption, but its financial significance depends on what users do after receiving tokens.
Sustained transfers, application payments and staking participation would provide stronger evidence of demand than activation figures alone.
For traders, the immediate focus is whether GRAM can preserve its trendline breakout. For longer-term investors, the more consequential measure is whether Telegram’s expanding wallet infrastructure generates recurring economic activity across The Open Network.
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