Telegram adds 714,844 crypto wallets in 48 hours, Durov says

Durov attributed the increase to automatic activation: users can receive Gram tokens through Telegram, triggering access to a wallet without first setting one up manually. “Adoption spreads virally: a wallet activates the moment someone receives Grams,” he wrote in a November 9 post on X, adding that “the crypto revolution is going strong.”

The figures follow Telegram’s October expansion of Money, its non-custodial wallet service for cryptocurrency transfers and purchases within the messaging app. Telegram first announced the integration in July, and a phased rollout began on August 31. The wallet supports the TON blockchain’s native cryptocurrency, renamed from Toncoin to Gram in June after a community vote that received 81.22% support. The rebranding did not change the blockchain, and existing balances, addresses and staking positions carried over automatically.

Wallet registrations do not necessarily indicate active blockchain use. The Gram blockchain explorer counts newly created Telegram wallets separately from active wallets, which must make an on-chain transaction to qualify. In a November 6 analysis, market researcher Ismail Rustamov estimated TON had about 282,000 active wallets over 24 hours and 2.2 million monthly active wallets—around 0.2% of Telegram’s reported billion-plus monthly users. He estimated daily transaction volume at approximately 5 million.

Rustamov also said TON’s total value locked had fallen to approximately $42.9 million from $92 million in May, while daily decentralized exchange volume stood at roughly $2.7 million. He warned of a scheduled release of 1.08 billion GRAM tokens in February 2027. Telegram’s growing role in TON has also drawn concerns about centralization: in May, Durov said the company would replace the TON Foundation as the network’s primary driving force and become its largest validator. Rustamov put GRAM near $1.10 in his November assessment, about 87% below its June 2024 peak of $8.24.