Telegram founder Pavel Durov reported more than 1 million self-custodial wallets appeared on the messaging platform within 48 hours, according to an X post. The wallets activate automatically when users receive Grams, removing the need for manual wallet creation. This growth reflects Telegram's distribution advantage in crypto: wallets operate inside an application with more than 1 billion monthly users, unlike standalone crypto wallets that require separate downloads and onboarding processes.
Telegram Activates Wallets Automatically Upon Receiving Grams
Pavel Durov stated in an X post that users do not need to manually create a wallet before receiving crypto. Wallets activate when someone sends them Grams. The dashboard accompanying Durov's announcement showed more than 1 million registrations across the 48-hour period. This mechanism creates a viral distribution path: one user sends tokens to another, introducing the recipient to an on-chain wallet. Recipients can then hold or transfer assets without leaving Telegram. New users do not need to understand seed phrases, download separate applications, or navigate an exchange.
TON Blockchain Records 4.06 Million Daily Transactions in October
The Open Network (TON), the blockchain powering Telegram's wallet, averaged 4.06 million daily transactions during October. The network added approximately 2.73 million wallets throughout October, its strongest monthly addition since October 2024. TON's decentralized finance total value locked remained at approximately $44 million. The wallet growth milestone aligns with expanding activity across TON's infrastructure, where Telegram's existing user base provides an audience that standalone crypto applications typically spend years building.
TON Stablecoin Users Increase 23.44% from September to October
TON averaged 37,693 daily stablecoin users in October, representing a 23.44% increase from September. TON's stablecoin supply stood at $585 million. The stablecoin figures indicate activity beyond token speculation, pointing toward payments and transfers. Telegram's mini-app ecosystem, digital collectibles, and stablecoin transfers could provide use cases where blockchain transactions function as another messaging feature.
FAQ
What did Pavel Durov announce about Telegram wallets?
Pavel Durov reported in an X post that more than 1 million self-custodial wallets appeared on Telegram within 48 hours. The wallets activate automatically when users receive Grams, without requiring manual wallet creation.
How many daily transactions did TON average in October?
TON averaged 4.06 million daily transactions during October. The network also added approximately 2.73 million wallets throughout October, its strongest monthly addition since October 2024.
How much did TON's stablecoin user base grow from September to October?
TON averaged 37,693 daily stablecoin users in October, a 23.44% increase from September. TON's stablecoin supply stood at $585 million.
