Telegram CEO Pavel Durov confirmed that the name of the token in the TON ecosystem will be changed from Toncoin to Gram. Durov stated that the change is expected to be completed in approximately three weeks, and that the name of the blockchain network will remain as The Open Network and TON.
Return to roots message
According to Durov’s statement, Gram was the original token name used in the first technical document of the project. Therefore, the latest step is considered not just a name change, but a sign of a return to Telegram’s original vision for the network.
Gram was the original name of the currency in TON’s first white paper. We return to our roots and open a new page.
Telegram initially developed the idea of The Open Network internally, and then community developers took over the project. The process evolved in a different direction after the regulatory dispute with the US Securities and Exchange Commission in 2020.
Because of this history, the latest rebranding step has a broader meaning than a visual or marketing-focused change. Durov had previously said that Telegram would replace the TON Foundation as the main driver of the network. It was also reported that the company became the largest validator in the same period.
Mini dictionary: A validator is a participant in a blockchain network who confirms transactions and contributes to the secure operation of the network. TON Foundation is known as the structure that supports the development of The Open Network ecosystem. In this news, it is emphasized that while the token name will change, the corporate and technical brand of the network will be preserved as TON.
Market reaction was rapid
The market reacted quickly to the announcement. The TON price increased by more than 13 percent to $2.12 within 24 hours after Durov’s post. The asset, which rose to $2.26 in intraday transactions, later experienced a limited withdrawal.
The increase rate recorded in the last month was approximately 58 percent. This move was associated with the expectation that Telegram would re-engage in the network more strongly. It was also stated that transaction fees were reduced and the block production speed was increased in the same period.
Still well below peak
However, TON is still far behind its historical peak of $ 8.25 in 2024. Current levels indicate that it is trading approximately 74 percent below this peak. It is known that Telegram-based game-oriented crypto interest was effective in the price movement at that time.
Projects such as Hamster Kombat and Notcoin created intense user traffic on the network. However, it was seen that this interest was not enough to keep prices at the same levels for a long time. With the latest change, investors are watching to see whether Telegram taking a more direct role will create a more permanent foundation for the ecosystem.
