Telegram’s GRAM Digital Token Is Being Sold For As Much As Three Times Its ICO Price
- Telegram’s digital currency Gram is going to be sold for $4 apiece
- They are expected to launch the new blockchain network before Facebook’s Libra
Telegram’s cryptocurrency Gram seems to be sold for as much as three times its Initial Coin Offering (ICO) price. South Korea’s Gram Asia has been offering sell rights to the Grams it holds at $4 per coin. This is according to a recent report released by Bloomberg.
Gram Token Being Sold For Three Times Its ICO Price
According to the cryptocurrency exchange Liquid, the Gram cryptocurrency will be offered for $4 apiece in a sale that begins on July 10. This is three times as much as what investors paid during the private sale conducted by Telegram in 2018. At that time, each Gram could be purchased for $1.33. The exchange informed that the price is going to be lowered to $3.5 if the user purchases the digital asset using the QASH token.
Telegram is one of the most popular messaging applications for cryptocurrency users and it’s being used by individuals in different countries to avoid the control of authoritarian governments. The enterprise was founded by Pavel Durov that had to leave Russia, the place he was born, due to different issues it had with the local government.
In March 2018, Telegram gathered $1.7 billion from qualified investors to fund the development of the Telegram Open Network (TON), a blockchain network that would be using the cryptocurrency Gram. Telegram is expected to be launching Gram to the market as soon as the third quarter of this year, just a few months before the official launch of Facebook’s Libra digital asset.
The digital currency is expected to be used to pay for different services offered on the TON blockchain, including applications, decentralized data storage and also bypassing censorship, among other things. In addition to it, the goal is to help users make transactions that are expected to be faster and more reliable than Bitcoin (BTC) and Ethereum (ETH).