The cryptocurrency Gram (GRAM), which returned to its historic identify as a part of a main rebranding of the TON ecosystem, is displaying an area rally amid a broader market revival.
On the time of writing, the value of the GRAM token, beforehand named Toncoin, has already climbed from $1.56 to an area peak above $1.71, and it’s presently holding round $1.65–$1.67, securing the asset within the prime 20 largest cryptocurrencies on CoinMarketCap with a complete market capitalization of $4.49 billion.
The present bounce is defined by the truth that this ticker now carries an previous and acquainted model for the market. It was beneath the identify Gram that Pavel Durov and the Telegram workforce raised a file $1.7 billion in 2018 to construct the Telegram Open Community blockchain.
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Nevertheless, in 2020, on account of heavy stress from the U.S. regulator the SEC, the undertaking needed to be shut down in its unique kind, and Durov returned the cash to traders. The blockchain was then taken over by an impartial neighborhood of builders, who continued growing it for years beneath the Toncoin and The Open Community model.
Binance and Hyperliquid step in for GRAM
The return to the Gram identify years later has develop into a particularly handy advertising and marketing transfer for attracting new liquidity. In a rising market, such speculative narratives work as a powerful catalyst for getting, and the momentum was instantly bolstered by bigger centralized and decentralized venues — Binance and Hyperliquid, respectively.
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Binance, the world’s largest crypto trade, rapidly opened spot pairs with USDT, USDC, and FDUSD, whereas additionally launching futures contracts. In the meantime, the DeFi platform Hyperliquid added leveraged contracts on the neighborhood’s particular request.
As a direct consequence, international merchants obtained a working mixture of a powerful bullish backdrop, a loud information catalyst, and fast entry to buying and selling on key platforms.