Toncoin (TON) roared higher on Monday, climbing about 11% and pushing above roughly $2.30 earlier in the day before cooling slightly. The jump came after Telegram founder and CEO Pavel Durov announced that The Open Network's native token will be renamed from Toncoin to “Gram” over the next three weeks.
Telegram's Pavel Durov confirms Toncoin will be renamed Gram, marking a new chapter for The Open Network.
Telegram founder Pavel Durov has unveiled a major rebranding initiative for the TON ecosystem, confirming that Toncoin will be renamed GRAM, the original name proposed for the networks native cryptocurrency in its first white paper. The announcement has generated significant market excitement, helping the token climb more than 10% as investors react positively to Telegrams renewed involvement in the ecosystem.
TON has rallied after Telegram founder Pavel Durov said the network's native token will revert to its original name, Gram.
Telegram is taking the reins of The Open Network, years after abandoning the project—and it plans to adopt Toncoin's originally planned name.
Pavel Durov announced that Toncoin will be renamed to Gram, restoring the original name used in TON's first white paper. The transition is expected to take around three weeks, while the TON blockchain will keep its current name. Following the announcement, TON climbed 18.75% over the past 24 hours and traded at $2.
Telegram founder Pavel Durov has announced that Toncoin, the native cryptocurrency of The Open Network (TON), will be renamed Gram, reviving the brand that once stood at the center of Telegram's abandoned $1.7 billion blockchain project.
The Gram rebrand follows network upgrades, fee cuts, and Telegram's push for a larger role in TON governance.
The Telegram founder said Gram was the original name for TON's currency in the network's first white paper.
Telegram's control over TON could centralize blockchain governance, impacting decentralization ideals and reshaping investor confidence. Telegram rebrands TON coin to GRAM, announces Pavel Durov.
Telegram's control over TON could centralize blockchain governance, impacting decentralization ideals and reshaping investor confidence. Pavel Durov announces Telegram is taking over TON blockchain, becoming its largest validator.
The rebranding to Gram may strengthen community ties and enhance recognition, potentially boosting adoption and development on the TON blockchain. Toncoin rebranding to Gram as TON blockchain returns to its roots.