GRAM rose by 4.4% after reports of a million wallets in Telegram

On November 12, Gram (GRAM), the native token of The Open Network blockchain, was trading around $1.18, gaining approximately 4.4% over the day. After dropping to $1 on November 9, the coin rose to $1.25 during trading on November 11, but then partially lost its gains. According to CoinMarketCap, trading activity significantly increased amid reports of the spread of the cryptocurrency wallet in Telegram.

What Pavel Durov Reported

On November 11, the founder of Telegram announced the activation of over 1 million non-custodial Gram wallets within 48 hours. Two days earlier, he reported more than 700,000 wallets activated over a similar period, explaining that the wallet is automatically activated after the user receives GRAM. Durov also called the asset significantly undervalued and suggested that it might one day enter the top three cryptocurrencies by market capitalization. This is the personal assessment of the Telegram founder, not a confirmed market forecast.

How Gram Wallet Works

GRAM is the former Toncoin: the asset changed its name and ticker in June 2026, while the blockchain retained the name TON. The wallet integrated into Telegram allows receiving and transferring tokens, as well as using them for digital gifts and collectible names. However, the number of activations cannot be equated to the number of unique owners or regularly used wallets: one person can control multiple addresses. Durov's statement does not contain data on how many of the new wallets purchased GRAM on the market.

Levels Traders Are Watching

According to a technical review by crypto.news, the relative strength index of GRAM was around 47.8, indicating a neutral momentum. The price was below the 50-day exponential average of about $1.27, despite a short-term rebound. Analysts highlighted resistance at $1.20–1.23 and support levels at $1.12 and $1.06, but these marks do not guarantee further movement. Over the month, the coin remained down by about 14%, so the sustainability of the recovery is not yet confirmed.