Pavel Durov, Telegram’s founder, used a post on X to highlight Gram’s gain during a broad crypto sell-off. He said the token rose 8% while most digital assets fell. The comment drew attention because Gram is tied to Telegram, which gives it a built-in user base that many tokens lack. Durov has argued this link gives Gram an edge.
Market data tells a more mixed story
CoinGecko data around the time showed Gram near $1.15. It was up about 4.5% over 24 hours, with a market value near $3.28 billion. That placed it around 29th among cryptocurrencies. Gram was still one of the stronger large-cap performers, but Durov’s claim that only Gram was rising did not hold up. Bitway gained 18.8%, Lighter rose 10.8%, and Internet Computer added 8.2% over the same window. So the headline number may have been a snapshot, or perhaps Durov was speaking loosely. Either way, the market was not kind to most tokens.
Durov keeps pushing a top-three target
Durov said Gram remains seriously undervalued. He wants it to reach the top three by market capitalization. That is a bold target. Gram’s current ranking is far from that level, and the gap is large. Still, Durov’s public support matters. Telegram has more than a billion users, and even a small slice moving into crypto could change the token’s demand picture. I think the top-three talk is more of a long-term bet than a near-term forecast.
Wallet growth and a name change
Telegram has been building around Gram. In June, the TON token was renamed Gram after a vote, with 81.22% support. Holders did not need to swap tokens. The project restored a name first used for Telegram’s blockchain work. Telegram is also pushing its self-custodial Gram Wallet, which lets people send crypto inside the messenger. On Nov. 9, Durov said more than 700,000 self-custodial wallets had been created in 48 hours. He also said wallet auto-activation can make setup easier.
There are signs of corporate interest too. Nasdaq-listed TON Strategy said it held about 235.1 million Gram tokens at the end of Q3. The company reported $13.1 million in quarterly revenue on Nov. 10.
For now, Gram’s relative strength stands out. But one day of outperformance does not settle the larger question. The token still needs sustained use, deeper liquidity, and a clearer path to Durov’s top-three goal. His post may have been part cheerleading, part marketing. The market will decide the rest.
