The Open Network's native token, now branded as Gram (previously known as Toncoin), is currently trading at $1.60 with a 24-hour range between $1.60 and $1.66. The cryptocurrency has a market capitalization of $4.36 billion, ranking 25th among all digital assets. Its fully diluted valuation stands at $8.33 billion, with a circulating supply of approximately 2.73 billion tokens. The token's all-time high of $8.25 was reached on June 15, 2024, meaning it has declined over 80% from that peak.
Recent Price Performance and Context
Over the past 24 hours, Gram has declined by 2.81%, underperforming major cryptocurrencies like Bitcoin ($62,732, -1.89%) and Ethereum ($1,779.66, -1.28%). Among the top movers in the market, only a few tokens showed positive momentum—notably DEXE (+19.20%), BEAT (+14.58%), and JTO (+10.99%). The broad market weakness reflects ongoing macroeconomic uncertainty and geopolitical tensions that have also affected the TON ecosystem directly.
The Gram token is classified under multiple categories including Smart Contract Platform, BNB Chain Ecosystem, Layer 1 (L1), and Ethereum Ecosystem. It is the primary asset used for transaction fees, staking, and governance within The Open Network, a blockchain closely tied to the Telegram messaging app. The network's total value locked (TVL) is not available in the provided data, but the market cap to TVL ratio and FDV to TVL ratio are both marked as N/A.
Ecosystem News Highlights
Dubai's Token2049 and TON Conferences Canceled Amid Iran Conflict
In a significant development, both the Token2049 conference and The Open Network's Gateway event scheduled in Dubai have been canceled or postponed due to escalating geopolitical tensions and the Iran war. The TON Gateway event was canceled on Thursday, followed by Token2049 announcing on Friday that it would not host an event in Dubai this year, postponing its plans until 2027. The safety of attendees and organizers was cited as the primary reason.
Biotech Firm Shifts to TON Treasury
Portage Biotech, a publicly traded biotech company, is pivoting to a digital asset treasury focused on Toncoin (GRAM). The firm secured approximately $100 million to build a treasury centered on the Telegram-linked token. As part of the strategy shift, the company will rename to AlphaTON Capital Corp. and change its ticker from PRTG to ATON on the Nasdaq. The move underscores growing institutional interest in the TON ecosystem.
Telegram Native Wallet Rollout in the US
Telegram has begun rolling out its native crypto wallet for US residents, allowing them to buy, sell, and send cryptocurrencies directly within the messaging app. Built by The Open Network ecosystem developer The Open Platform (TOP), the self-custody wallet first launched for international users in September 2023. The timing of the US launch was guided by product scaling readiness and market conditions, according to the team.
The Open Platform Becomes a Unicorn
The Open Platform (TOP), a developer of Telegram-based protocols and apps built on TON, completed a $28.5 million Series A funding round at a $1 billion valuation. The round was led by Ribbit Capital, with participation from Pantera Capital. This makes TOP the first crypto unicorn in the Telegram blockchain ecosystem, highlighting the maturing infrastructure for TON-based applications.
Flappy Bird Returns as a Crypto Telegram Game
The iconic mobile game Flappy Bird has made a controversial return as a crypto-fueled Telegram game amid a tap-to-earn boom. The game launched with a play-to-earn mining campaign for an eventual FLAP token on The Open Network (TON). However, the future of those plans became uncertain when the Telegram mining phase ended without a token airdrop this spring. The Flappy Bird Foundation later mentioned that the game still has plans ahead in the crypto world. Notably, a non-crypto version was also released on the Epic Games Store for Android, which contains no Web3 elements.
Institutional-Grade Staking Rewards for TON Holders
P2P.org, a non-custodial staking provider, partnered with Ton Whales to offer a new staking solution for TON holders. The service, accessible as a widget via an API, promises institutional-grade security and lower barriers to entry. Holders can earn staking rewards directly, further enhancing the utility of Gram tokens.
$100 Million Fund to Boost TON Projects
TVM Ventures launched a $100 million fund to promote the expansion of The Open Network's on-chain offerings. The fund aims to steer the network away from reliance on layer-2 solutions and instead support direct development on the TON base layer. This could drive mass adoption of the network and increase the value proposition for Gram token holders.
Telegram Games and Developer Dynamics
The Telegram mini-app ecosystem continues to evolve. TapSwap, a popular tap-to-earn game, announced it would launch its TAPS token on BNB Chain instead of TON, citing better market conditions. Farm Frens delayed its FREN token airdrop and criticized TON for "heavy-handed restrictions" requiring all mini apps with crypto integrations to use TON. This has created friction among developers, though some are finding alternative paths. The CEO of Animoca Brands predicted that every Web3 project will soon have a Telegram complement, underscoring the platform's growing importance for user onboarding.
Technical and Market Data
The Gram token's price action over various timeframes—24 hours, 7 days, 1 month, 1 year, and all-time—can be viewed on its chart. The current price of $1.60 represents a significant decline from its ATH, but the ecosystem's expansion suggests potential for recovery. The market cap to TVL ratio could provide insight into valuation relative to network usage once TVL data becomes available.
Other coins listed on the same page include Zcash ($512.86), WhiteBIT Coin ($55.05), Stellar ($0.183083), Monero ($330.85), Cardano ($0.159749), Chainlink ($7.94), and many more. Gram sits within a competitive landscape of layer-1 blockchains, but its integration with Telegram gives it a unique user base of over 900 million monthly active users.
Outlook for Gram (TON)
The TON ecosystem is at a pivotal juncture. On one hand, recent developments like the US wallet launch, the $100 million fund, and institutional interest from firms like Pantera Capital signal strong fundamentals. On the other hand, price has declined over 80% from its peak, and geopolitical tensions have disrupted major events. The token's future will likely depend on the success of Telegram-based applications, the growth of DeFi on TON, and the ability to maintain developer enthusiasm amid competitive pressures from other blockchain networks.
As the network matures, the distinction between Gram and Toncoin—now unified under the Gram branding—may become less relevant. What matters is the utility and adoption of TON as a platform for real-world applications, gaming, and financial services. The next few months will be critical as the ecosystem navigates regulatory challenges, market volatility, and the ongoing evolution of the Telegram mini-app economy.
Source:Decrypt News