Key takeaways
- GRAM drops roughly 6% despite Pavel Durov's bullish prediction
- Telegram reports over one million self-custodial wallet activations
- GRAM risks retesting $1 if $1.10 support fails
Gram (GRAM), the cryptocurrency formerly known as Toncoin, fell roughly 6% on November 13 despite Telegram founder Pavel Durov predicting that the token could eventually become one of the world's three largest cryptocurrencies.
GRAM declined toward $1.12-$1.15 after briefly reaching approximately $1.26 earlier this week, reversing much of the rally fueled by Durov's comments and growing Telegram wallet adoption.
Pavel Durov Predicts GRAM Will Become a Top-3 Cryptocurrency
In a November 10 Telegram post, Durov described GRAM as significantly undervalued, arguing that its integration with Telegram gives it an advantage over competing cryptocurrencies.
He predicted that GRAM would eventually rank among the three largest digital assets by market capitalization, although he provided no specific price target or timeline.
The statement followed the token's recovery from approximately $0.99 on November 9, when broader cryptocurrency weakness pushed GRAM toward its lowest price since 2022.
Durov subsequently announced that more than one million self-custodial Gram wallets had been activated through Telegram within 48 hours.
The development builds on Telegram's earlier TON wallet expansion, which introduced integrated cryptocurrency functionality to American users.
However, wallet activation does not automatically indicate sustained token demand. Durov explained that a wallet can activate when someone receives GRAM, meaning the reported figure does not establish how many users subsequently purchase, hold or spend the cryptocurrency.
Why Is GRAM Falling Despite Telegram's Growth?
GRAM's decline reflects both broader cryptocurrency weakness and the difficulty of converting adoption announcements into sustained buying pressure.
The token has already experienced substantial volatility following Telegram's growing involvement in The Open Network.
In May, GRAM surged approximately 65% after Durov announced plans for Telegram to take a more prominent role in TON governance and infrastructure.
That rally followed major blockchain upgrades, including faster block production and lower transaction costs.
June's Toncoin-to-Gram rebrand also attracted market attention, although the transition did not require a token swap or change the underlying blockchain.
GRAM subsequently weakened despite continued ecosystem development, including Telegram's proposed .gram domain initiative.
The token remains far below its June 2024 peak near $8.25. Its recent price reversal suggests that Telegram's distribution advantage alone has not been sufficient to reverse the broader downtrend.
GRAM Price Prediction: Can $1.10 Hold or Is $1 Next?
GRAM's immediate technical outlook depends on whether buyers can defend the $1.10–$1.12 region following the recent reversal.
A sustained breakdown could expose $1.06, followed by the psychologically significant $1 level, which previously attracted buyers during the November 9 selloff.
Conversely, stabilization above $1.12 could allow GRAM to retest $1.20–$1.23. Breaking above that resistance would put the recent $1.26 peak back in focus.
The token's longer-term outlook also depends on whether Telegram's expanding wallet ecosystem translates into repeat transactions, genuine user demand and sustained on-chain activity.
Earlier TON market weakness demonstrated how quickly sentiment toward the cryptocurrency can change despite continued infrastructure development.
