Durov’s Much-Anticipated Gram Token Could be Worth a Whooping $30 Billion
Originally published on: CoinSpeaker
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February 08, 2019
Telegram users are anticipating great event: the launch of Gram cryptocurrency. While the developers are getting ready with the mainnet launch, HASH Crypto Investment Bank, a subsidiary of Russian e-payment company Qiwi, a major, is trying to roughly predict the cost of Telegram’s currency.
As the Russian media outlet The Bell has reported, experts have estimated the total capitalization of Gram. As they stated, the cryptocurrency could be worth $29.5 billion by the end of 2019. This number is incredible, and investors could be in for a bumper return.
The experts have also revealed the expected price per Gram token. The rational cost of a single Gram unit makes up $5.9. According to The Bell, Telegram may “provide investors with the same assessment” of the Gram’s future worth.
TON’s Long Development Path
Telegram’s founder Pavel Durov first roused the curiosity of 200 million active Telegram users last year. It was announced that Telegram was going to launch its Telegram Open Network (TON) and Gram token.
Telegram Open Network is an entirely new blockchain platform intended to be a competitor to Ethereum for the launch and execution of smart contracts and decentralized applications. Expected to deal with the problem of scalability, TON will process millions of transaction per second. For developing the platform, Durov united centralized and decentralized infrastructure.
The company issued a two-round initial coin offering (ICO). In February, the company announced that it had raised a whopping $850 million in the first round itself making it as the largest fundraising via token sale till date. The second fundraising round brought another $850 million in addition to the previous offering. As a result, the company surpassed its initial targets of $1.2 billion and made a total of $1.7 billion.
In May, the whole process was suspended because of increasingly strict regulations proposed by the Securities and Exchange Commission, Commodity Futures Trading Commission, and other entities. However, Telegram contrived to continue working on the project and in November, announced that TON was 70% complete.
In January, the developers decided to demonstrate TON to investors. Moreover, it turned out that the TON network was 90% complete. Pavel Durov was expected to present the project and Gram token at the World Economic Forum that took place in Davos, Switzerland. However, at that time, Durov himself did not give any comments on it.
Yesterday, another news came from the team behind TON. The Xena Exchange platform is now prepared to create a derivative on Telegram’s GRAM token. Investors would be able to trade the Gram tokens before they are issued on the Telegram TON project. Xena’s derivative would be available on February 27.
Telegram is also working on other potential partnerships with e-commerce, retail, and other online services leading up to its native messenger app store launch.
Another thing known about the mainnet launch of Gram is that it is set to take place as early as March this year. The token may make its debut in Japan.
There is even speculation that Gram may be among the top 10 cryptocurrencies, given the amount of money already invested. In fact, a market capitalization of $1.7 billion would immediately put it in competition with Tron that currently takes the 8th position in the crypto rankings. Moreover, some believe that the currency can go further and see great success, becoming the 4th in no time.