Telegram sees 700,000 new crypto wallets in 48 hours, Durov says

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Telegram has recorded more than 700,000 new self-custodial cryptocurrency wallets over the past 48 hours, according to founder Pavel Durov, as the messaging platform continues expanding access to its native Gram Wallet.

• Telegram founder Pavel Durov said more than 700,000 new crypto wallets were created within 48 hours, with 329,952 registrations recorded on November 9 alone.

• The growth was attributed to Gram Wallet’s automatic activation feature, which allows Telegram users to receive cryptocurrency without manually setting up a wallet.

• The latest registrations followed Telegram’s expansion of its native wallet service, which supports cryptocurrency transfers directly within the messaging application.

• Recent criticism has focused on whether the rise in wallet registrations is translating into active blockchain usage, with November analysis pointing to limited DeFi liquidity and relatively low active wallet participation.

• TON has faced concerns over network centralization following Telegram’s decision to take a more direct role in the blockchain’s development and become its largest validator.

In a November 9 post on X, Durov said the number of newly created wallets had crossed 700,000, with the accompanying dashboard showing 714,844 registrations during the two-day period.

700K+ self-custodial wallets created on Telegram in the last 48 hours alone. Adoption spreads virally: a wallet activates the moment someone receives Grams. The crypto revolution is going strong. pic.twitter.com/JPO2KVMip0 — Pavel Durov (@durov) November 9, 2026

The figures included 329,952 new wallets created on November 9 alone, indicating a rapid pickup in registrations following the recent expansion of Telegram’s cryptocurrency services.

Durov attributed the growth to the wallet’s automatic activation feature, which allows Telegram users to receive Gram tokens without having to manually create a cryptocurrency wallet beforehand.

“Adoption spreads virally: a wallet activates the moment someone receives Grams,” he wrote.

The Telegram founder described the latest growth as evidence that cryptocurrency adoption was continuing, declaring that “the crypto revolution is going strong.”

Telegram’s Gram Wallet expands through automatic activation

The latest figures follow Telegram’s October expansion of Money, its native non-custodial wallet designed to support cryptocurrency transfers and purchases within the messaging application.

Under the system, users can receive GRAM directly through Telegram, after which the wallet becomes accessible inside the application.

The service allows users to hold and transfer the TON blockchain’s native cryptocurrency, alongside purchases involving Telegram gifts and collectible usernames.

Unlike custodial cryptocurrency services, the wallet is designed to give users control over their digital assets without requiring them to leave funds with an exchange or another intermediary.

Telegram initially announced the wallet integration in July, when Durov described plans to bring instant, fee-free cryptocurrency transfers to the platform’s billion-plus monthly users.

A phased rollout began on August 31, with selected accounts receiving access before availability expanded to more users.

At the time, Durov said network validators had approved a smart contract that would allow future wallet upgrades without requiring holders to migrate their assets.

The wallet operates on The Open Network, whose native cryptocurrency was renamed from Toncoin to Gram in June following a community vote that received 81.22% support.

The rebranding left the underlying blockchain unchanged, with existing balances, wallet addresses and staking positions carried over automatically.

TON wallet growth draws questions over actual network usage

Although Telegram’s latest figures indicate substantial wallet creation, the Gram blockchain explorer distinguishes between newly registered wallets and addresses that conduct transactions on the network.

Its methodology counts wallets created through Telegram separately from active wallets, which must complete an on-chain transaction to qualify.

The distinction has featured in recent criticism of TON’s adoption and the relationship between Telegram’s large user base and activity across its blockchain ecosystem.

In a November 6 analysis, market researcher Ismail Rustamov questioned whether Telegram’s closer involvement with TON had translated into sustained cryptocurrency demand.

Rustamov estimated that the network processed approximately 5 million daily transactions, with around 282,000 active wallets over a 24-hour period.

He placed monthly active wallets near 2.2 million, equivalent to approximately 0.2% of Telegram’s reported billion-plus monthly users.

The researcher noted that decentralized finance activity remained limited despite improvements in transaction volumes, with TON’s total value locked falling to approximately $42.9 million from $92 million in May.

His analysis further identified roughly $2.7 million in daily decentralized exchange trading volume and warned about the potential market impact of a scheduled release of 1.08 billion GRAM tokens in February 2027.

Telegram’s growing role in TON faces centralization concerns

Questions about TON’s network structure have persisted since Telegram took a more direct role in its development earlier this year.

In May, Durov announced that Telegram would replace the TON Foundation as the blockchain’s primary driving force and become its largest validator.

The announcement placed Telegram in a more influential position over the network’s technical development, including planned performance improvements, developer tools and transaction fee reductions.

The takeover raised concerns about centralization and the concentration of influence within a blockchain closely tied to a single messaging platform.

Durov said at the time that transaction fees had fallen sixfold to nearly zero, while Telegram outlined plans to improve the network’s infrastructure.

Meanwhile, Gram’s market performance has remained under pressure despite the wallet rollout.

Rustamov’s November 6 assessment placed GRAM near $1.10, approximately 87% below its June 2024 peak of $8.24.

The researcher said the cryptocurrency had briefly reached $2.72 following Telegram’s May takeover announcement before losing those gains, while the October wallet expansion produced a temporary 9% rally to $1.56.