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Telegram CEO Pavel Durov has shared new metrics on the Gram wallet integration in the messenger.

According to Durov, over the last 48 hours alone, users activated more than 700,000 non-custodial Gram wallets.

The screenshot shared by the Telegram CEO shows more than 329,000 new addresses a day. According to GRAM documentation, a wallet is created automatically when a user receives their first token transfer.

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. https://t.co/JPO2KVMip0

The growth comes after a series of changes Telegram made to the TON network earlier this year under Durov's "Make TON Great Again" campaign.

Telegram returns to TON

Back in 2020, Durov was forced to kill the original Telegram Open Network project and return more than $1.2 billion to investors after a lawsuit from the US SEC.

Community developers kept the open-source code alive as The Open Network (Toncoin).

This year, Telegram became the largest validator of the network. Besides, Telegram cut TON fees sixfold.

In June, the token was renamed back to its original name, Gram, after a community vote, with 81% of voters in favor. In July, Durov announced that Telegram would integrate a native non-custodial Gram wallet into every Telegram app.

The Telegram CEO described it as "the largest deployment of a non-custodial crypto wallet in history" and promised instant zero-fee transactions for more than 1 billion Telegram users.

According to TON developer Andrew Rogozov, the custodial Wallet in Telegram will stay separate from the new wallet. Now, onboarding happens natively within standard chat windows.

Still, while wallet creation metrics break records, liquidity inside the network is lagging behind with total value locked at $42.01 million, according to DefiLlama.

These hundreds of thousands of new addresses are mostly making microtransactions, such as buying Telegram Premium, paying for in-app ads, or settling small P2P transfers.

Besides, Telegram's validator weight is raising centralization concerns among industry critics. At the same time, the native wallet is still unavailable for US users.

At press time, Gram is trading at $1.05. The token is still more than 87% below its 2024 high of $8.25.

"The crypto revolution is going strong," Durov said. 

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