Telegram announced that its native Gram Wallet added 714,844 new self‑custodial wallets over the past two days, with 329,952 registrations recorded on November 9 alone, according to founder Pavel Durov. The surge follows the platform’s recent expansion of the Money service, which enables users to receive and hold the TON blockchain’s native token, Gram, directly within the messaging app.

Automatic activation fuels rapid growth

Durov attributed the spike to the wallet’s automatic activation mechanism. When a Telegram user receives GRAM, a wallet is created instantly without any manual setup, a process he described as “viral adoption.” The feature was introduced in the October rollout of Money and is designed to lower entry barriers for Telegram’s billion‑plus monthly users.

Active usage remains limited

While the registration numbers are high, the TON blockchain explorer separates newly created wallets from those that conduct on‑chain transactions. Market researcher Ismail Rustamov, cited by crypto.news, estimated only about 282,000 active wallets in a 24‑hour window and roughly 2.2 million monthly active wallets, representing around 0.2 % of Telegram’s user base. Daily transaction volume hovers near 5 million, but total value locked in DeFi contracts has fallen to about $42.9 million, down from $92 million in May.

Centralization concerns and future outlook

Telegram’s deeper involvement with TON, including becoming the largest validator after replacing the TON Foundation, has raised questions about network centralization. Durov has highlighted fee reductions and infrastructure upgrades, yet the market price of GRAM remains under pressure, trading near $1.10, well below its 2024 peak. Analysts also note a scheduled release of 1.08 billion GRAM tokens in February 2027 could affect future demand.

What to watch next

Observers will monitor whether the surge in wallet registrations translates into higher on‑chain activity, especially in DeFi protocols on TON. Additional metrics to watch include the ratio of active wallets to total registrations, changes in transaction fees, and the impact of the upcoming GRAM token release on market liquidity.