Pavel Durov Predicts Gram Will Break Into Top 3 by Market Cap

Durov's Top-Three Call for Gram

Telegram founder Pavel Durov put Gram at the center of Wednesday's crypto conversation with a post on X claiming the token was the only one trading higher during a market-wide sell-off. “Crypto's a sea of red. Only Gram is up +8%,” he wrote, pairing the performance claim with a longer thesis: in his view, the token's integration with Telegram gives it a serious advantage over cryptocurrencies that lack an existing social media ecosystem behind them. The post landed while other major cryptocurrencies were still struggling, and the founder presented the token's green print as evidence for that integration argument. The billionaire entrepreneur framed Gram as deserving of a place among the three largest digital assets, argued it is “still ridiculously undervalued” at its current price, and predicted it will eventually break into CoinMarketCap's top three by market cap. Market data puts the Gram price near $1.15, up 4.5% over the last 24 hours, with a market capitalization of roughly $3.28 billion, enough for 29th place among digital assets. The 4.5% reading is smaller than the +8% Durov cited, the difference pointing to different measurement windows. The token has produced outsized single-day moves before, including a session in which it rallied 10% in a day on a 28.67% volume surge. Durov's “only” framing does not fully survive the tape, however: several altcoin gainers outpaced the Telegram-linked token over the same window, with Bitway (BTW) up 18.8%, Lighter (LIT) up 10.8% and Internet Computer (ICP) up 8.2%. Gram sits among the best performers of the major cohort, but it was not alone in the green.

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From Toncoin to Gram in June

The token at the center of Durov's post has carried its current name only since June. The native cryptocurrency of The Open Network completed its switch from Toncoin (GRAM) to Gram after 81.22% of votes backed the change, a decision that restored the name originally proposed for Telegram's blockchain project. Holders faced no action: the Toncoin rebrand required no token swap, and balances carried over unchanged. The rename set the stage for the adoption push that now anchors Durov's case. Telegram is working to increase adoption of its native self-custodial wallet, in which the user rather than a service controls the wallet address, letting people send crypto directly inside the messenger. Self-custody keeps the keys with the user rather than with Telegram, positioning the messenger as an interface rather than a custodian. On Nov. 9, Durov reported 700,000 Gram wallets activated on Telegram within 48 hours, adding that users can obtain Gram through wallet auto-activation, without complex activation procedures. That matters because each activated account is a potential holder, and auto-activation removes the technical steps that previously filtered out casual users. Institutional demand sits alongside the retail funnel. Nasdaq-listed TON Strategy disclosed that it held about 235.1 million GRAM tokens at the end of Q3, and the company reported $13.1 million in quarterly revenue on Nov. 10. Together, the rename, the wallet growth and the treasury position form the substance behind the founder's confidence: a messaging platform converting its user base into self-custodial users, and a listed vehicle accumulating the asset behind them.

A Long Gap From 29th Place

Durov's case rests on distribution rather than on today's ranking. Market data places GRAM 29th at roughly $3.28 billion in capitalization, and the post names no timeframe or path from there to the top three. What the primary record does establish is concrete: a decisive 81.22% rename vote in June, more than 700,000 wallets created in 48 hours, and a Nasdaq-listed treasury holder reporting a 235.1 million GRAM position alongside $13.1 million in quarterly revenue. Those are the facts the undervaluation argument leans on. Whether that adoption converts into durable demand or short-term FOMO buying is a question the post leaves open, and our Gram technical analysis tracks how the market prices each new data point. The top-three target itself remains Durov's, offered without a deadline.