Gram reclaimed its historic name, rose above $1.71, and held a $4.49 billion market cap after swift exchange listings

Price movement and market capitalization

The price of GRAM climbed from $1.56, surging past the local peak of $1.71, before stabilizing between $1.65 and $1.67. Its total market capitalization reached $4.49 billion.

This uptick is largely driven by the renewed focus on the Gram brand, which holds significant recognition in the market. The Gram name first emerged when Telegram founder Pavel Durov and his team raised $1.7 billion in 2018 to develop the Telegram Open Network blockchain. Durov is widely known as the founder of the messaging platform Telegram.

The Gram name has long been recognized in the market after $1.7 billion was raised in 2018 for the Telegram Open Network initiative.

Setbacks due to SEC intervention

Initially, the project was halted in 2020 following pressure from the U.S. Securities and Exchange Commission (SEC). During this period, Pavel Durov returned funds to investors. The blockchain subsequently came under the stewardship of an independent developer community and continued evolving over the years under the Toncoin and The Open Network brands.

Years later, the revival of the Gram brand stands out as a compelling marketing move, particularly amid a rising market. Coupled with a surge of positive news, this strategic pivot has bolstered new liquidity and driven increased demand among investors.

Rapid listings boost upward momentum

The strong rally was further fueled by swift action from both centralized and decentralized trading platforms. Binance listed GRAM with USDT, USDC, and FDUSD trading pairs and swiftly rolled out perpetual futures contracts. Hyperliquid, responding to community demand, also introduced leveraged contracts for GRAM.

Binance’s rapid rollout of spot and futures products, along with Hyperliquid’s addition of leveraged contracts in response to community demand, quickly broadened access to GRAM.

Thanks to these developments, global investors encountered an upbeat market environment, a wave of positive news, and instant access across major platforms. Together, these factors became the main pillars behind the recent price movement in GRAM.