Telegram users create over 700,000 Gram wallets in 48 hours, token trades at $1.05
Telegram CEO Pavel Durov has reported a sharp increase in Gram wallet activations within the messaging platform, with more than 700,000 non-custodial Gram wallets created over the past 48 hours.
Major growth behind Gram integration
The latest data revealed that users set up more than 329,000 new wallet addresses per day. According to the GRAM documentation, a wallet is automatically generated for users upon receiving their first token transfer.
The surge in wallet creation comes after Telegram implemented several changes to the TON network earlier this year. Under Durov’s “Make TON Great Again” campaign, these initiatives aimed to enhance ecosystem integration and user adoption.
Telegram’s development team described the native non-custodial Gram wallet integration as “the largest deployment of a non-custodial crypto wallet in history,” promising instant zero-fee transactions for more than 1 billion Telegram users.
In 2020, Durov discontinued the original Telegram Open Network project and refunded more than $1.2 billion to investors after a lawsuit filed by the US Securities and Exchange Commission (SEC).
Community developers subsequently kept the open-source code running under the name The Open Network (Toncoin). Telegram has since become the largest validator of the TON network and reduced associated transaction fees by a factor of six.
In June, following a community vote with 81% in favor, the project reverted its token name to Gram. By July, Durov confirmed the integration of the non-custodial Gram wallet directly into every Telegram app.
Mini dictionary: TON (The Open Network) is a decentralized blockchain network initially designed by Telegram’s team, now maintained and developed by a community of independent programmers. It aims to facilitate fast transactions, decentralized apps, and secure digital payments across multiple platforms.
New wallet rollout and user onboarding
Andrew Rogozov, a core TON developer, clarified that the custodial Wallet feature in Telegram will remain separate from the new non-custodial wallet. The onboarding process now occurs natively within regular chat windows, streamlining user engagement.
Despite impressive growth in creating new wallet addresses, liquidity within the Gram ecosystem remains limited. DefiLlama reports the total value locked (TVL) in the network stands at $42.01 million.
| Gram Wallets Created (48h) | 700,000+ |
| New Addresses per Day | 329,000 |
| Total Value Locked | $42.01 million |
| Token Price | $1.05 |
| 2024 High | $8.25 |
Most new addresses are executing microtransactions, including Telegram Premium purchases, in-app advertising payments, and small peer-to-peer transfers.
Centralization concerns and regional restrictions
Telegram’s significant validator participation has prompted some industry observers to express concerns regarding potential centralization in the TON network. Additionally, the native Gram wallet feature remains inaccessible to users in the United States.
At the time of reporting, Gram is trading at $1.05, marking a drop of more than 87% from its 2024 peak of $8.25.
Pavel Durov emphasized ongoing momentum, stating that “the crypto revolution is going strong.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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