Toncoin (TON) Price: TON Surges 11% as Durov Says the Token Is Rebranding to GRAM

TLDR

• Telegram founder Pavel Durov announced Toncoin will rebrand to GRAM, its original name from the first whitepaper.
• The network will keep the name TON, but the token ticker will change.
• The transition is expected to take about three weeks.
• TON surged over 11% on the news, trading around $2.10.
• This rebrand is step 4 of 7 in Durov’s “TON Great Again” plan.

---

Telegram founder Pavel Durov announced on his Telegram channel that Toncoin, the native token of the TON blockchain, will be renamed GRAM. The name was originally used in the network’s first whitepaper before the project ran into legal issues with U.S. regulators.

The network itself will keep the TON name. Only the token is changing.

TON jumped over 11% on the news, according to TradingView data. The token was trading around $2.10 at the time of writing. It is also up around 19% over the past week and roughly 60% over the past month.

Toncoin (TON) Price

A Seven-Step Plan

The rebrand is not a standalone move. Durov called it step 4 of 7 in a broader initiative he has framed as “TON Great Again.”

Source: TradingView

Step 1 was a major network upgrade that made TON 10x faster, with the block rate increasing 6x. More recently, Durov announced that transaction fees had dropped to nearly zero.

He also said Telegram would replace the TON Foundation as the main driving force behind the blockchain, with Telegram becoming the network’s largest validator. That change was given a two-to-three week timeline when it was announced last month.

History With the SEC

The GRAM name carries history. Durov originally developed the TON network before being forced to step back following a lawsuit filed by the U.S. Securities and Exchange Commission. The SEC has since dropped that lawsuit.

With a more crypto-friendly administration now in place in the U.S., Telegram has been moving to take a larger and more active role in the TON ecosystem.

TON held gains on the day the rebrand was announced, even as the broader crypto market declined. Bitcoin fell below the $71,000 level on the same day.

The token’s rise of roughly 60% over the past month points to a shift in market sentiment around the TON ecosystem in recent weeks.

The post Toncoin (TON) Price: TON Surges 11% as Durov Says the Token Is Rebranding to GRAM appeared first on CoinCentral.