TON, the native token of The Open Network, is up by 4% in the last 24 hours, making it the best performer among the top 20 cryptocurrencies by market cap.
The positive performance comes amid network upgrades, fee cuts, and Telegram’s push for a larger role in TON governance.
Unlike the broader crypto market, TON’s technical indicators are also bullish, suggesting a further rally in the near term.
Durov renames TON to Gram
Telegram CEO Pavel Durov announced on Monday that TON will be renamed Gram, marking a return to the original name proposed in TON’s early white paper.
In his Telegram post, Durov stated that this latest development is his ongoing “Make TON Great Again” initiative and framed it as a return to the project’s foundational identity.
“Gram was the original name of TON’s currency in the first white paper,” Durov wrote. “We’re returning to our roots — and starting a new chapter.”
However, the blockchain itself will continue to operate under the name The Open Network (TON), while its native token will adopt the Gram branding.
The Telegram CEO noted that the change will take around three weeks to complete, with the rebranding representing the fourth milestone in Durov’s seven-step “Make TON Great Again” (MTONGA) campaign.
Telegram has previously revealed that it intends to initiate a network upgrade that would make TON ten times faster, reduce transaction fees by roughly six times, and ensure that Telegram becomes a key ecosystem steward and validator.
The Gram was first mentioned in Telegram’s original blockchain project launched in 2018, which was initially intended to power a decentralized payments ecosystem.
However, the original initiative was abandoned in 2020 following legal pressure from the US SEC. Telegram halted its token sale back then and refunded investors.
The project morphed into The Open Network, which later became closely integrated with Telegram’s messaging and payments ecosystem.
TON bulls target the $2.9 swing high
The TON/USD 4-hour chart is bullish and efficient as Toncoin is currently outperforming the other major cryptocurrencies. At press time, TON is trading at $2.015.
The pair has established a strong support at $1.70 and could extend its rally in the near term. The momentum indicators also suggest a strong bullish outlook for TON.
The MACD lines are within the positive territory, while the RSI of 61 shows that TON is bullish but not yet in the overbought region.
If the bulls push higher, TON could retest the Monday high of $2.286 in the near term. A daily candle close above this level would allow TON to surge towards the $2.903 swing high created on May 7th.
However, if the sellers regain control, TON could retest the Monday low of $1.865. Failure to defend this level could see TON dip towards the Transactional Liquidity (TLQ) and support level at $1.708.
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