Gram (GRAM), the cryptocurrency previously known as Toncoin, registered a sharp decline of about 6% on November 13, even as Telegram founder Pavel Durov expressed optimism that the token could become one of the three largest cryptocurrencies globally.
Durov’s Prediction Fails to Sustain GRAM Rally
GRAM dropped to the $1.12–$1.15 range after reaching as high as $1.26 earlier in the week. The reversal erased much of the gains fueled by Durov’s recent public support and the increasing adoption of Telegram’s integrated crypto wallet.
On November 10, Durov referred to GRAM as a significantly undervalued asset, highlighting its integration with the Telegram messaging app as a unique strength compared to competing digital currencies.
In Durov’s view, GRAM’s connection to Telegram creates what he called a “natural advantage” over other cryptocurrencies, and he suggested that this link could help GRAM reach the top 3 in global market capitalization, though he did not specify a timeline or target valuation.
GRAM’s recent advance followed a recovery from lows near $0.99 on November 9, when overall weakness in the crypto market drove the token toward price levels last seen in 2022.
Durov also announced that over one million self-custodial Gram wallets had been activated within 48 hours on Telegram, a messaging platform used by over 800 million global users.
This milestone built upon Telegram’s earlier TON wallet rollout, a move that introduced integrated cryptocurrency functionality to American users for the first time.
However, Durov emphasized that the wallet activation milestone does not directly equate to purchasing or long-term holding of the GRAM token, since wallets become active when they receive GRAM, regardless of the user’s ongoing activity.
Market analysts attribute GRAM’s price decline to a combination of overall crypto market weakness and skepticism about whether platform-based adoption directly translates into lasting buying interest.
GRAM has displayed significant price swings since Telegram increased its involvement with The Open Network, an initiative originally designed to expand blockchain solutions for mass use.
In May, GRAM surged approximately 65% after Durov outlined Telegram’s plans to play a greater role in TON governance and crypto infrastructure.
That surge coincided with blockchain upgrades delivering faster block production and lower transaction fees.
Meanwhile, the June rebranding from Toncoin to Gram drew added attention, though no token swap or blockchain change was required for holders.
Despite this continued activity—such as Telegram’s proposal for the .gram domain name service—GRAM prices have softened, moving well below the June 2024 high of about $8.25, as technical selling pressure outweighs headline-driven rallies.
Mini dictionary: The Open Network (TON) is a blockchain platform initially developed by Telegram to support a high-throughput network for decentralized applications and payments, aiming for mass-scale adoption within popular messaging platforms.
Key Technical Levels in Focus for GRAM
Analysts indicate that GRAM’s short-term outlook centers on its ability to remain above the $1.10–$1.12 support range following the recent sell-off.
A decisive breach below these levels could lead to a retest of $1.06, and possibly the psychologically important $1 support, which attracted buyers during the sharp November 9 decline.
Should GRAM stabilize above $1.12, a recovery toward $1.20–$1.23 is possible, with the recent $1.26 peak serving as the next upside technical target.
| Price Level | Significance |
|---|---|
| $1.26 | Recent high, upside resistance |
| $1.20–$1.23 | Intermediate resistance |
| $1.12 | Current support threshold |
| $1.06 | Potential support, if $1.12 breaks |
| $1.00 | Major psychological support |
Future developments in Telegram’s wallet ecosystem and actual user transaction volumes are likely to play a key role in shaping GRAM’s long-term price trend.
Periods of TON market volatility in the past have shown how quickly sentiment can shift, even in the face of continuing infrastructure improvements.
The path forward for GRAM now depends on whether Telegram’s efforts to integrate self-custodial crypto wallets will lead to real usage and steady token demand, rather than just temporary interest tied to new feature rollouts.
