Toncoin Soars 15% Following Strategic Rebranding to Gram
By Abdus Salam
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In a bold move signaling a return to its roots, Toncoin has been rebranded as Gram, a strategic decision approved by Telegram founder Pavel Durov that has propelled the token's value by 15%. This headline-grabbing shift comes as The Open Network (TON) embarks on an ambitious path toward creating a comprehensive Web3 super app.
The Vision Behind the Rebranding
“We’re returning to our roots — and starting a new chapter,” Durov stated in a recent Telegram post, underscoring the importance of the name ‘Gram,’ which originally appeared in the network’s 2018 white paper. The rebranding initiative represents a significant evolution for TON, which previously had its $1.7 billion initial coin offering (ICO) blocked by the U.S. Securities and Exchange Commission in 2020.
Streamlining the Transition
The transition to Gram is expected to take approximately three weeks, with TON clarifying that this shift does not involve any token swaps or migrations. All existing balances, addresses, and contracts will remain intact, ensuring a seamless experience for current users. As of now, a remarkable 1.8 million TON tokens, accounting for nearly 80% of the network’s voting power, have already committed to endorsing the rebrand.
Milestones and Future Prospects
Positioned as part of the “Make TON Great Again” roadmap, this rebranding initiative marks the fourth stage of TON’s ongoing development. The earlier phases included enhancements aimed at boosting blockchain performance and reducing transaction fees, making the platform more attractive to its user base.
The ultimate goal of this rebranding effort is to transform Telegram into a leading platform for payments, digital ownership, and AI-driven services—catering to its one billion users. The vision is to deliver a seamless Web3 experience within the Telegram app, creating a hub for mini-apps and crypto transactions.
Market Reactions and Future Outlook
Raw market data reflects a significant spike in Toncoin’s value, which surged from approximately $1.95 to a new trading peak of $2.25 in the wake of the announcement. However, by Tuesday morning, the token experienced a slight pullback to $2.07, continuing to grapple with a marked decline of 75% from its all-time high of $8.25 recorded in June 2024.
As the rebranding unfolds, the market will be closely watching how these developments align with Telegram’s broader vision for the Web3 landscape and their impact on both user engagement and market confidence.
Source: Cointelegraph