Telegram's CEO Announces Toncoin Will Be Rebranded as Gram

Telegram's Toncoin Set for Rebranding

Pavel Durov, the CEO of Telegram, announced that the cryptocurrency Toncoin (TON) will be rebranded to its original name, Gram. This decision marks a significant shift as Telegram re-engages with its crypto initiatives after stepping back due to regulatory hurdles.

In a recent update shared on his official channel, Durov stated, "Gram was the original name of TON’s currency in the first white paper. We’re returning to our roots—and starting a new chapter. This rebranding will pave the way for what comes next." The transition to the name Gram is expected to be completed within three weeks, while The Open Network will retain its TON branding.

This move aligns with Durov's earlier announcement in May, where he revealed that Telegram would take over The TON Foundation and become the primary validator of the network. Alongside the name change, the network has also implemented lower transaction fees and improved block rates to facilitate faster transactions.

Market response has been positive, with the price of TON rising by over 13% in the last 24 hours, reaching around $2.12 and hitting a peak of $2.26 earlier in the day. Although TON has appreciated roughly 58% over the past month, it still sits about 74% lower than its all-time high of $8.25, which occurred in 2024 during a surge of Telegram-linked gaming projects like Hamster Kombat and Notcoin.