Telegram CEO Pavel Durov shared the latest data on the integration of Gram wallets within this communication app.

Durov stated that in just the past 48 hours, users have activated over 700,000 unmanaged Gram wallets.

The screenshot shared by this Telegram CEO shows that more than 329,000 new addresses are added each day. According to the GRAM document, when a user receives their first token transfer, the system automatically creates a wallet for them.

This growth occurred after a series of adjustments to the TON network earlier this year by Telegram, which were carried out under Durov's “Make TON Great Again” initiative.

Telegram Back to TON

As early as 2020, after being sued by the U.S. Securities and Exchange Commission (SEC), Dorov was forced to terminate the initial Telegram Open Network project and return over $1.2 billion to investors.

Subsequently, community developers continued to maintain this open-source code and continued it as The Open Network ( Toncoin ).

This year, Telegram has become the largest validator on that network. In addition, Telegram has also reduced the fees for TON to one-sixth of the original amount.

In June of this year, following a community vote, the token was renamed back to its original name Gram, with 81% of voters expressing their support. In July, Durov announced that Telegram would integrate a native unmanaged Gram wallet into every Telegram application.

This Telegram CEO has referred to it as "the largest non-hosted cryptocurrency wallet deployment in history," and has pledged to provide instant, zero-fee transactions for over 1 billion Telegram users.

According to Andrew Rogozov, the developer of TON, the existing managed Wallet in Telegram will continue to operate separately from the new wallet. Nowadays, users can directly perform native integration within the standard chat window.

However, despite the record-breaking data for wallet creation, the liquidity within the network is still lagging behind. According to the data from DefiLlama, the total locked-up value is 42.01 million US dollars.

The report indicates that most of these hundreds of thousands of new addresses are used for small-value transactions, such as purchasing Telegram Premium, paying for in-app advertising fees, or completing small-scale peer-to-peer transfers.

In addition, the weight of validators for Telegram has also raised concerns among industry critics about centralization. Meanwhile, this local wallet is still not available to users in the United States.

As of press time, Gram is trading at $1.05. The price of this token is still more than 87% lower than its peak of $8.25 in 2024.

"The crypto revolution is still making strong progress," said Dorov.