Telegram founder and CEO Pavel Durov has described GRAM, the native token of the TON blockchain, as “ridiculously undervalued,” arguing that the cryptocurrency deserves a place among the world’s top three digital assets by market capitalization.

According to Durov, GRAM is the only cryptocurrency built directly into a major social platform, a distinction he highlighted by pointing to the token’s integration with Telegram’s ecosystem. That positioning is central to how the project is framed: rather than operating apart from mainstream apps, GRAM sits inside Telegram itself, meaning token and wallet features are available where Telegram’s users already spend their time. He also expressed confidence that the token would eventually reach the ranks of the top three cryptocurrencies by market capitalization — a tier long anchored by established assets such as Bitcoin and Ethereum, and therefore a high bar for any newer entrant.

His comments came as GRAM recorded gains despite a broader downturn across the cryptocurrency market. The token rose approximately 14% over a 24-hour period, according to information reported by Wu Blockchain. A single token moving up while the wider market moves down is a token-level development rather than a market-wide one; the reporting does not attribute the gain to Durov’s remarks, and no causal connection between the two is established.

More Than 1 Million Wallets Activated in 48 Hours

Beyond his remarks on valuation, Durov also reported significant activity involving self-custodial Gram wallets on Telegram. According to his statement, more than 1 million of these wallets were activated during the preceding 48 hours. Self-custodial means users hold the wallet’s private keys themselves rather than entrusting them to an exchange or other intermediary — in this case, with the wallet living inside the Telegram app.

The figure adds another data point to the activity surrounding GRAM and its integration with Telegram. That said, the reported wallet activations and the token’s 14% price increase represent separate developments; the information provided does not establish a direct connection between the two.

Durov Sets His Sights on the Top Three

Durov’s assessment reflects his view that GRAM’s position within Telegram gives it a distinctive place in the cryptocurrency market. Unlike digital assets that operate separately from major social platforms, GRAM is built directly into a large social ecosystem through Telegram and the TON blockchain.

His stated ambition for the token is substantial. Durov believes GRAM deserves to rank among the top three cryptocurrencies by market capitalization and has said he is confident the token will eventually achieve that position. Market capitalization — the total value of a token’s circulating supply — is the standard yardstick used to rank cryptocurrencies, which is why the claim is framed in those terms.

For now, the reported figures include a 14% gain over 24 hours and more than 1 million self-custodial Gram wallet activations on Telegram within 48 hours, alongside Durov’s assessment that the token’s current valuation is far below where it should be. For readers tracking the story, the observable datapoints ahead are straightforward: any further wallet-activation disclosures from Durov and GRAM’s standing in published market-capitalization rankings.

Original reporting by Victoria Hale, Technology & Blockchain Writer, for Hokanews.