Important June 2026 update: Toncoin is being rebranded to Gram (GRAM). The blockchain itself still keeps the name The Open Network (TON). This is a display-name and ticker update only, so there is no token swap, no migration, and no action required from holders.
If you are asking what is Toncoin, what is TON crypto, or what is TON coin, the simple answer in mid-2026 is this: Gram, previously known as Toncoin, is the native coin of The Open Network. It is used to pay transaction fees, stake with validators or staking services, move value across wallets, and interact with payments, games, NFTs, DeFi apps, Telegram Mini Apps, TON DNS, TON Storage, and other services built on TON.
TON began as Telegram’s blockchain initiative, but it now operates as an open-source ecosystem supported by a broader community. TON Foundation plays an important role in growing the network, yet the protocol itself is not controlled by a single company or operator.
As of mid-June 2026, the asset’s market capitalisation sits at roughly $4.3 billion to $4.6 billion, depending on the tracker and the exact time checked. Exact rank changes intraday, so it is safer to date-stamp market references rather than describe Gram or Toncoin as a permanently fixed “top X” coin.
For official updates, use TON.org, the TON use page, and the official Gram of TON Telegram channel.