Gram ($GRAM) Jumps 8% as Durov Calls It 'Ridiculously Undervalued' After 700,000 Telegram Wallets Open in 48 Hours

Published November 11, 2026, 10:00 PM PKT. Based on live market data from CoinGecko and Binance at about 4:52 PM UTC on November 11, 2026 (primary sources), and reporting by CryptoPotato, TradingView News citing PANews, Traders Union and CoinStats on November 10 and 11, 2026 (secondary sources). Prices are snapshots and move constantly.

Gram ($GRAM), the token formerly known as Toncoin, rose about 8% on Wednesday, November 11, 2026 after Telegram founder Pavel Durov called it "ridiculously undervalued" on X and predicted it would one day rank among the three largest cryptocurrencies by market capitalisation.

Gram traded at $1.19 at about 4:52 PM UTC, up 7.99% over 24 hours, according to CoinGecko, with a market capitalisation of $3.41 billion that ranked it 29th among cryptocurrencies. Trading volume reached $158.7 million over 24 hours. On Binance, the GRAM/USDT pair traded at $1.194, up 7.76% over 24 hours, with an intraday high of $1.257 and a low of $1.089, and hourly closes showed the price peaking near $1.25 around 1:00 PM UTC before easing back.

Durov: "a sea of red. Only Gram is up"

Durov posted on X on November 11 that "Crypto's a sea of red. Only GRAM is up +8%," alongside a market snapshot showing Litecoin ($LTC), Avalanche ($AVAX), Sui ($SUI) and Hedera ($HBAR) all lower by between 1.70% and 3.57%, CryptoPotato reported. He called Gram the only token built into a real social ecosystem, said it was seriously undervalued and deserved a top-three ranking by market capitalisation on CoinMarketCap, according to TradingView News, citing PANews.

The timing matters for how much weight to give the post. Durov's snapshot captured the market earlier in the day, when most large coins were lower. By late afternoon UTC the broader market had turned higher too: Bitcoin ($BTC) traded at $74,235, up 1.86% over 24 hours, Ether ($ETH) at $2,077, up 2.95%, and Solana ($SOL) at $84.74, up 3.45%, according to CoinGecko. Gram still outperformed all three, but it was no longer the only coin in the green by the time of writing.

The claim itself is a big one. At $3.41 billion, Gram's market value is a small fraction of the current third-largest cryptocurrency's, and Durov gave no timetable. His post is an opinion from the founder of the app the token is built into, not a development announcement, and the token's price has repeatedly faded after similar endorsements.

700,000 wallets in 48 hours

The price move followed a separate adoption claim from Durov. He said on X that more than 700,000 self-custodial wallets were created on Telegram within 48 hours, according to CoinStats. Because these wallets let users hold their own keys, Telegram itself cannot access the funds in them. An analysis published November 9 noted that the count does not show how many of those wallets actually hold tokens.

The wallet surge is tied to Telegram's phased integration of Gram wallets directly into the app, which lets recipients receive Gram without first setting up a wallet, Traders Union reported. CoinStats reported that right after Durov's wallet post, Gram's price jumped 2.5% and 24-hour trading volume rose 120% to $97 million.

Gram completed its rebranding from Toncoin earlier in 2026 after a community vote passed with 81.22% support, with the rename taking effect on June 15, 2026. Existing balances carried over automatically on a one-to-one basis and holders needed to take no action, according to a Blockchain.com support page cited by CoinStats. The network itself remains The Open Network (TON). The same support page warned users about fake tokens that scammers use to exploit the rename, and noted that no official swap or migration exists.

A rally inside a longer slide

The day's gain does not reverse Gram's recent trend. The token is up only 0.58% over seven days, down 13.83% over 30 days and down 42.84% over the past year, according to CoinGecko. It sits about 85.5% below its all-time high of $8.25, set in June 2024. Gram fell below $1 for the first time in four years during the slide, and is down 65% from its May peak, CoinStats reported.

The week before the bounce was worse for Gram than for the market as a whole. Over the same week, Gram fell 12.4% while Bitcoin ($BTC) dropped about 3%, a gap that analysts read as selling specific to Gram rather than a broad market move, CoinStats reported. On-chain activity has also cooled: a researcher cited by Crypto.news estimated about 282,000 active wallets in 24 hours and $42.9 million in decentralised finance value locked, down from $92 million in May.

Derivatives traders are not convinced either. Perpetual futures positioning leans short, with CoinStats showing an average funding rate of negative 0.0239% alongside $114.83 million in open interest, and negative rates on most major exchanges, including Bybit at negative 0.0904%, Gate at negative 0.065% and Binance at negative 0.0311%. CoinStats rated Gram's market sentiment cautiously bearish, and noted that positive catalysts have produced only short-lived responses in recent months.

The November 22 unlock looms

The next test for the price is supply, not sentiment. A CoinMarketCap community unlock calendar lists 36.58 million GRAM, valued at about $43.1 million, to unlock on November 22, CoinStats reported. Additional supply entering circulation can add selling pressure, and traders are likely to watch the date closely.

The date itself carries a caveat: CoinStats noted that the same listing's heading gives November 6, so the timing is not settled. What is settled is the scale of the overhang. Circulating supply stands at about 2.86 billion GRAM, roughly 54% of the 5.28 billion total supply, according to CoinGecko, so a meaningful share of the token is still locked and could add sell pressure during rallies. In a November 10 market update, Gram was named the top gainer among the top 200 cryptocurrencies by market capitalisation and was selected as coin of the day, though the update rated its technical sentiment as neutral, CoinStats reported.

For now, the story is narrow: a founder's endorsement and a wallet milestone lifted a token that had been falling faster than the market, inside a downtrend that one day has not broken. Whether the gain holds depends on whether the wallets turn into holders, and whether the November unlock passes without a fresh wave of selling.

Sources

• CoinGecko, Gram (prev. Toncoin) market data, November 11, 2026 (primary source: $1.19 at 16:51 UTC, up 7.99% over 24 hours, up 0.58% over 7 days, down 13.83% over 30 days, down 42.84% over one year, $3.41 billion market capitalisation, rank 29, $158.7 million 24-hour volume, 24-hour range $1.091 to $1.25, all-time high $8.25 on June 14, 2024, circulating supply 2.86 billion of 5.28 billion total, fully diluted valuation $6.31 billion; Bitcoin $74,235 up 1.86%, Ether $2,077 up 2.95%, Solana $84.74 up 3.45%)
• Binance, GRAM/USDT spot market, November 11, 2026 (primary source: last price $1.194, up 7.76% over 24 hours, open $1.108, high $1.257, low $1.089, quote volume $27.1 million; hourly closes 12:00 UTC $1.243, 13:00 UTC $1.250, 14:00 UTC $1.204, 15:00 UTC $1.191, 16:00 UTC candle in progress at $1.194)
• CryptoPotato, Pavel Durov Calls GRAM 'Ridiculously Undervalued' After 8% Surge, November 11, 2026 (secondary source: Durov post on X, "Crypto's a sea of red. Only GRAM is up +8%", snapshot showing Litecoin, Avalanche, Sui and Hedera down 1.70% to 3.57%, Gram at about $1.12 with an 8.65% gain and a $3.21 billion market capitalisation, CoinGecko near $1.14 with a $3.26 billion market capitalisation and 24-hour volume up 50% to $113 million; Gram down nearly 8% over two weeks, almost 21% over 30 days, over 46% over 12 months, about 86% below the $8.25 all-time high of July 2024)
• TradingView News, citing PANews, Telegram CEO Pavel Durov Calls GRAM 'Seriously Undervalued' as Token Gains 8%, November 11, 2026 (secondary source: Durov said on X that Gram was up 8% amid a weak crypto market, called it the only token built into a real social ecosystem, said it was seriously undervalued and deserved a top-three ranking by market capitalisation on CoinMarketCap; PANews had Gram at $1.12, up 8.07% over 24 hours)
• Traders Union, What's behind Gram's latest 8.1% price surge?, November 10, 2026 (secondary source: Gram advanced 8.14% after a surge in wallet activations within Telegram's integrated Gram wallets; over 700,000 Gram wallets activated in 48 hours; rebranding from Toncoin after a 2026 community vote enabled automatic wallet initialisation for recipients; Gram below its 20-day, 50-day and 200-day moving averages at $1.1859, $1.3469 and $1.5324; near-term ceiling $1.122, support $1.03)
• CoinStats, Gram (prev. Toncoin) News Today: Why GRAM Is Up, 11 November 2026, November 11, 2026 (secondary source: more than 700,000 self-custodial wallets created on Telegram within 48 hours, per Durov on X; count does not show how many wallets hold tokens; Gram fell 12.4% in a week while Bitcoin dropped about 3%; 20-day moving average about 12% above price, 200-day about 43% above; about 282,000 active wallets in 24 hours and $42.9 million in DeFi value locked, down from $92 million in May; 36.58 million GRAM, about $43.1 million, listed to unlock on November 22, though the listing's heading gives November 6 so the timing is not settled; rename from Toncoin to Gram took effect June 15, 2026 after an 81.22% community vote; top gainer among the top 200 by market capitalisation on November 10, technical sentiment neutral; price jumped 2.5% right after the wallet post and 24-hour volume rose 120% to $97 million; Gram fell below $1 for the first time in four years, down 65% from the May peak; perpetual funding averaged negative 0.0239% with $114.83 million open interest)

This article is news reporting and is not investment advice.