Telegram’s CEO Pavel Durov has revealed impressive new metrics regarding the integration of the Gram wallet into its messaging application. According to Durov, more than 700,000 non-custodial Gram wallets were activated in just the last 48 hours. A shared screenshot displayed the creation of more than 329,000 new addresses in a single day.
Rapid Growth in Wallet Integration
Based on the Gram documentation, a wallet is automatically created when a user receives their first token transfer. Consequently, these figures not only reflect the in-app interest but also the direct generation of new addresses on the network. In July, Telegram announced plans to integrate its native, non-custodial Gram wallet into the full range of its applications.
Durov described this initiative as the largest distribution of non-custodial crypto wallets in history and stated that over one billion Telegram users can now send instant and fee-less transfers.
“The crypto revolution is strongly continuing on its path.”
Telegram had previously halted its Telegram Open Network project in 2020 following a lawsuit by the U.S. Securities and Exchange Commission, refunding investors over $1.2 billion. However, community developers maintained the open-source code, and the network continued operations under the name The Open Network or Toncoin.
Transformations Within the TON Ecosystem
This year, Telegram undertook several changes in the network under Durov’s “Make TON Great Again” initiative. The company has emerged as the largest validator on the network and reduced transaction fees to one-sixth of their previous levels. A community vote in June saw 81% of participants support reverting the token’s name back to Gram.
Andrew Rogozov, a developer on TON, stated that Telegram’s custodial Wallet service would remain distinct from the new wallet. Consequently, user participation in the system now occurs directly within standard chat windows in the application.
Andrew Rogozov conveyed that the current custodial Wallet service within Telegram would be retained, while the new Gram wallet is embedded natively into standard chat streams.
Liquidity and Centralization Concerns
Despite the sharp increase in new address activations, in-network liquidity has not grown at the same pace. Data from DefiLlama indicates that the total locked asset value is at $42.01 million. A significant portion of new addresses is reportedly involved in micro-transactions like purchasing Telegram Premium, in-app advertisement payments, and small peer-to-peer transfers.
Some industry critics argue that the increased weight of Telegram’s validators raises centralization risks. Additionally, the local wallet’s unavailability to U.S. users remains a noteworthy topic.
As of the time of publication, Gram was trading at $1.05, significantly below its 2024 peak of $8.25.
