According to ChainCatcher, Telegram founder and CEO Pavel Durov said GRAM rose despite a broad decline in the crypto market, arguing that it is the only cryptocurrency genuinely integrated into a large social ecosystem and remains significantly undervalued. Durov said GRAM deserves a place among the top three cryptocurrencies by market capitalization on CoinMarketCap and believes it can reach that position. He added that more than 1 million self-custodial Gram wallets were activated on Telegram in the past 48 hours, while GRAM gained about 14% in the 24 hours before his post.