Toncoin surged sharply after news of a possible token rebranding to Gram. The Open Network wants to return the cryptocurrency to the name from its first white paper, published before the Telegram-SEC conflict and the closure of the $1.7 billion ICO.
The update is part of a broader TON overhaul after Telegram increased its control over the network’s development. For the market, this is more than just a name change. The project is trying to reconnect the token to Telegram’s original idea and integrate it into the messenger’s ecosystem, which has an audience of about 1 billion users.
TON Returns to Its 2018 Name
The Open Network proposed renaming Toncoin (TON) to Gram (GRAM). That was the name of the network’s cryptocurrency in the project’s first document, when Telegram was still directly developing the blockchain and preparing to launch its own digital currency.
Pavel Durov wrote on Telegram that the project is “returning to its roots” and starting a new chapter. According to him, the transition will take about three weeks and should prepare the network for the next stage of development.
For TON, this is a strong symbolic move. The Gram name is associated with the project’s early stage, when Telegram raised $1.7 billion in a private token sale. Later, the US Securities and Exchange Commission blocked the launch, after which Telegram abandoned the project’s original format.
Voting Is Already Underway
The Open Network launched a vote on the rebranding on June 2. The proposal specifically states that users do not need to change tokens, migrate, use bridges, submit applications, or convert assets.
All balances, addresses, smart contracts, and open positions should remain unchanged. This is an important part of the process, because changing the token’s public name could cause confusion among users and exchanges.
At the time of publication, about 1.8 million TON had been cast in favor of the rebranding. That is almost 80% of the votes supporting the proposal. This result shows that major network participants are generally ready for the renaming and do not see it as a technical risk.
Telegram Increases Its Role in Network Development
The rebranding is happening against the backdrop of more significant changes in TON’s governance. In May, Telegram effectively became the main driving force behind the network’s development and its largest validator. This changed the project’s perception.
Previously, TON developed as an independent network, historically and infrastructurally linked to Telegram. Now the connection is more direct. For the market, this means the token’s future increasingly depends on how deeply Telegram integrates blockchain functions into the messenger.
Durov presented the rebranding as the fourth stage of the “Make TON Great Again” roadmap. Before this, the network had already implemented the Catchain update in April, reduced fees, and gone through restructuring after Telegram’s role increased.
Gram Should Become Part of the Telegram Ecosystem
TON’s main bet is not on the name, but on Telegram’s scale. The messenger could become a platform for payments, mini-apps, digital property, AI agents, and other services where the token will be used within a familiar interface.
This scenario makes TON one of the few blockchain projects with access to a mass user base. Most networks have to attract an audience separately, promote wallets, and explain why users need blockchain. Telegram already has this infrastructure.
In this context, Gram looks like an attempt to make the token more recognizable and restore its historical identity. The Toncoin name is associated with the current version of the network, while Gram recalls Telegram’s original plan to create a built-in digital currency for its ecosystem.
The Market Reacted Quickly to the News
TON’s price rose by more than 15% after the rebranding announcement. The token climbed from about $1.95 to above $2.25 in late Monday trading.
Some of the gains were then lost. By Tuesday morning, the price had pulled back to $2.07, according to CoinGecko. Despite the sharp rebound, the asset is still trading about 75% below its all-time high of $8.25 set in June 2024.
This dynamic shows that the market saw the news as a strong short-term signal, but not yet as a full-fledged reversal. For sustainable TON recovery, not only rebranding and voting are needed, but also growth in real network usage within Telegram.
Why the Rebranding Matters for TON
Changing the name alone does not alter the token’s economics. Balances remain the same, the network continues to operate without migration, and users do not need to take additional actions.
The main significance of the rebranding is different. TON is trying to relaunch the project’s public perception after a complicated history with the SEC, Telegram’s withdrawal from the original launch, and subsequent community-driven network development. Restoring the Gram name closes this circle and reconnects the token to Telegram.
For investors, this could be a reason to reconsider the asset’s long-term potential. If Telegram really starts to actively develop payments, mini-apps, and digital services based on TON, the token will have a clearer use case. Without this, the rebranding will remain a strong news hook, but will not change the fundamental picture.
Risks for the Market Remain
Despite the growth, TON remains far from its 2024 highs. This suggests that investors are still cautious and not ready to fully restore the asset’s previous valuations.
In addition, Gram’s history is associated with regulatory risks. It was under this name that Telegram once faced the SEC, which blocked the $1.7 billion ICO. Formally, the current rebranding does not launch a new token or require asset exchange, but the Gram brand itself could once again attract the attention of regulators and market participants.
There is also market risk. Fast jumps on news often end with profit-taking, especially if the announcement is not followed by concrete products, integrations, and growth in on-chain activity. That is why the coming weeks will be a test for TON.
What Happens Next?
The transition to the Gram name should take about three weeks. During this time, the market will watch the voting results, exchanges’ reactions, and further statements from Telegram.
If the rebranding goes smoothly, TON will get an updated public story and a closer connection to the Telegram ecosystem. The next stage will be more important than the name change itself. The project needs to show that Gram will become not only a symbol of returning to its roots, but also a working tool within the messenger.
So far, the price reaction shows interest but not confidence. TON has the rare advantage of access to Telegram’s huge audience. Now the market needs proof that this audience will start using blockchain services not just in theory, but in everyday scenarios.
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