Telegram’s founder Pavel Durov announced on Monday that TON’s native currency is rebranding to Gram, reviving the name first used in the blockchain’s original whitepaper.
TON rallied approximately 9% to trade above $2 after the news broke. The asset previously more than doubled following Durov’s statement that Telegram became TON’s largest validator.
According to Durov, the transition will take approximately three weeks, after which the token will be known as Gram while the TON blockchain retains its name.
Durov described the move as a return to the project’s roots and the start of a new chapter. The rebrand is part of step four of his seven-step Make TON Great Again plan.
This is a developing story.
