Toncoin’s (TON) cryptocurrency price increased by 19.5% in 24 hours, rising from $1.89 to $2.26 in response to Pavel Durov’s claim that the token name would be changed to Gram, after which a correction to $2 occurred. Telegram described the decision as a fourth of seven steps in the Make TON Great Again (MTONGA) strategy. According to him, the procedure for changing the token will last approximately three weeks, with the blockchain continuing to operate under the name The Open Network (TON).

We go back to the beginning – and start a new chapter. This change will open the way to what will be further , – stressed Durov, presenting the thematic website Gram. At the same time, a key vote was opened on TON Vote to change the ticker, the launch of which preceded an immediately deleted test poll.

In the user environment, concerns have arisen about the dominance of large holders in decision-making. In particular, one of the rebranding wallets accumulates 1.5 million TON (about $3.3 million) and is believed to be owned by a miner who withdrew almost 45 million coins from the network in 2020. According to Code Durov, at the start of voting in the first 15 minutes, around 90% of negative votes came from retail investors with a total portfolio of $578,866.