Telegram says 700K+ wallets opened in 48 hours. The chart says $GRAM is up 18.91% in 72h to $1.19 (chart ticker: TON/USD, the old Toncoin name).
Here's the catch. Per Bitcoin.com News, using GRAM Explorer data on Nov 10, only about 178,000 of 2.85M Telegram wallets held a balance, roughly 6%, averaging about $11 each. Created is not funded.
My read: this bounce off the sub-$1 low looks like sentiment after Durov called the token "ridiculously undervalued", not proven demand yet. It also peaked near $1.25 on Nov 11 and has faded since.
What would change my mind: funded wallets climbing while price holds, or the Nov 22 unlock (36.58M GRAM, though the listing's date is inconsistent) passing without a sell-off.
Which number matters more for $GRAM, wallets created or wallets funded?
#Gram #Telegram #TON
Not financial advice.
Disclosure: I can earn Binance Write to Earn rewards from this post.
Here's the catch. Per Bitcoin.com News, using GRAM Explorer data on Nov 10, only about 178,000 of 2.85M Telegram wallets held a balance, roughly 6%, averaging about $11 each. Created is not funded.
My read: this bounce off the sub-$1 low looks like sentiment after Durov called the token "ridiculously undervalued", not proven demand yet. It also peaked near $1.25 on Nov 11 and has faded since.
What would change my mind: funded wallets climbing while price holds, or the Nov 22 unlock (36.58M GRAM, though the listing's date is inconsistent) passing without a sell-off.
Which number matters more for $GRAM, wallets created or wallets funded?
#Gram #Telegram #TON
Not financial advice.
Disclosure: I can earn Binance Write to Earn rewards from this post.
