Durov Says GRAM Belongs in Crypto’s Top Three
Telegram’s founder called GRAM undervalued as the token gained about 9%, while CoinMarketCap still ranked it No. 27 by market capitalization.
Key Notes
- Pavel Durov says GRAM is undervalued and predicts it will eventually enter CoinMarketCap’s top three.
- CoinMarketCap showed an approximately 9% daily gain while ranking GRAM at number 27.
- His outlook centers on Telegram’s native wallet and existing social and payment uses.
Pavel Durov says GRAM deserves a place among the three largest cryptocurrencies, arguing that its integration with Telegram gives the token a stronger foundation than its market valuation suggests.
In a November 10 Telegram post, published at 20:43 UTC, the messenger’s founder called GRAM “ridiculously undervalued” and predicted it would eventually reach CoinMarketCap’s top three. He supplied no target price or date for that outcome.
A Daily Gain, With a Much Lower Current Ranking
When checked at approximately 21:20 UTC, CoinMarketCap showed GRAM trading around $1.13, up roughly 8.9% over 24 hours. Its reported market capitalization was about $3.22 billion, placing it at No. 27.
The figures put Durov’s prediction well beyond the token’s current position. CoinMarketCap calculates market capitalization using a reference price multiplied by circulating supply. Moving up the ranking depends on GRAM’s valuation relative to other assets.
Durov described the broader market as falling and credited GRAM’s relative strength to Telegram. That explanation is his assessment, rather than evidence establishing what caused the day’s purchases or proving that every other cryptocurrency declined.
CoinMarketCap identifies GRAM as the renamed Toncoin, the native currency of The Open Network. The blockchain continues to use the TON name.
Telegram’s Digital Economy Underpins His Argument
Durov described GRAM as the “only coin built into a real social ecosystem.” The claim reflects his view of Telegram’s competitive position and the financial activity available within the app.
Walt CEO Andrew Rogozov’s September company letter explains the products behind that argument. Telegram’s native Gram wallet provides a simple way to hold and use the token, while Walt offers broader trading, investing and access to multiple blockchain networks.
Gram Wallet’s stated uses include transfers to friends, gifts, Stars and transactions within Telegram apps and services. CoinScreamer’s Money coverage examined the native wallet’s wider rollout and its distinction from Walt’s separate crypto platform.
Telegram also has established digital collectibles. Its gifts announcement describes items that can be upgraded, transferred to other users or auctioned on NFT marketplaces. These features give token payments a connection to existing social activity.
Wallet Growth Adds Context to the Forecast
Durov’s comments follow his report that Telegram added more than 700,000 self-custody wallets in 48 hours. He attributed that expansion to wallets activating when users receive Grams, as covered in our wallet-growth report.
New wallets measure activation, while repeat payments and continued use measure different aspects of adoption. Durov’s reported count did not establish how many unique people bought tokens or remained active afterward.
Telegram’s press information says it passed one billion monthly active users in 2025. That audience provides a large distribution channel, with the token’s longer-term case depending on how extensively people use the financial products built around it.
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