TON rallies after Pavel Durov announces Toncoin rebrand to Gram

TON surged on June 1 after Telegram founder Pavel Durov introduced that the blockchain’s native foreign money can be renamed from Toncoin to Gram.

In a Telegram put up, Durov stated:

TON’s native foreign money is changing into Gram.

He added that “Gram” was the unique title used for TON’s foreign money within the undertaking’s first white paper and described the transfer as a return to the community’s roots.

The transition is anticipated to take round three weeks, whereas TON will stay the title of the blockchain itself.

Rebrand revives TON’s authentic identification

The announcement carries historic significance as a result of Gram was initially tied to Telegram’s first blockchain ambitions earlier than the corporate’s 2020 authorized battle with the U.S. Securities and Alternate Fee.

Telegram ultimately stepped away from direct involvement within the authentic TON undertaking after the SEC blocked the Gram token launch. The ecosystem later advanced independently underneath the TON title.

Durov’s newest announcement now seems to reconnect the undertaking with its earlier branding and imaginative and prescient.

The put up additionally described the rebrand as “step 4 of seven” in a broader initiative titled:

“Make TON Nice Once more.”

TON value jumps as momentum returns

TON rallied sharply following the announcement, climbing greater than 15% through the session to commerce above $2.18.

TradingView knowledge confirmed:

• a robust enlargement in buying and selling quantity,
• rising bullish momentum,
• and the Relative Energy Index (RSI) climbing towards 62.

The transfer pushed TON greater after a number of weeks of consolidation following Could’s broader rally throughout the ecosystem.

The most recent value motion additionally suggests merchants interpreted the announcement as greater than a beauty title change.

Telegram deepens involvement in TON ecosystem

The Gram announcement arrives throughout a broader restructuring section for the TON ecosystem.

In latest weeks:

• Telegram elevated its operational involvement in TON,
• community charges have been decreased,
• and Durov signaled plans for nearer integration between Telegram and the blockchain infrastructure.

The rebrand may additional strengthen TON’s identification round Telegram’s authentic crypto imaginative and prescient whereas serving to distinguish the blockchain itself from its native foreign money.

Last Abstract

• TON rallied after Pavel Durov introduced the blockchain’s native foreign money can be renamed from Toncoin to Gram.
• The transfer reconnects the undertaking with Telegram’s authentic TON branding earlier than the SEC halted the primary Gram launch in 2020.