Telegram may have a shortcut to crypto’s stubborn onboarding problem: it can put a wallet inside an app people already use. Pavel Durov reportedly announced more than one million wallet registrations in 48 hours. But registrations alone don’t show how many people used those wallets, or kept using them.
- Reported milestone: More than one million wallet registrations in 48 hours, according to Biggo’s account of Durov’s post.
- Potential edge: Telegram’s existing audience could make wallet access easier.
- Open question: The figures don’t establish unique users, repeat use, or meaningful economic activity.
What the reported milestone measures
Biggo reported that Telegram founder Pavel Durov announced more than one million wallet registrations over 48 hours on X. A dashboard shown with the announcement reportedly displayed more than one million registrations during that period.
That’s a notable onboarding figure, but it should be described as registrations, not as one million new people, active users, or confirmed on-chain wallets. The available information doesn’t explain how a registration is counted or confirm that each one belongs to a unique person.
Biggo also says wallets can activate when a user receives “Grams”, without first creating a wallet manually. The description leaves basic questions unanswered: what “Grams” means in this process, what the recipient sees, and whether they need to take any action. The available reporting doesn’t identify Telegram’s integrated wallet more precisely, either.
Biggo describes the wallets as self-custodial. With a self-custodial wallet, users are meant to control their own crypto rather than rely on a custodian. But the information provided doesn’t explain how the wallet handles key control or recovery, so the label doesn’t tell us exactly how much control users have in practice.
Telegram’s possible distribution advantage
Biggo says Telegram has more than one billion monthly users. That large existing audience could give a wallet inside the messaging app an edge over a standalone product. A separate wallet has to persuade people to download and set up another app.
Reach doesn’t equal conversion. Telegram’s audience doesn’t mean every user can access the wallet, wants to use TON, or will become an active crypto user. An easier path to a wallet may reduce friction, but convenience alone won’t give people a reason to return.
Payments, stablecoin transfers, digital collectibles, and Telegram mini-apps could give users reasons to keep using a wallet. Those are possible use cases, not proof that repeat use is already widespread.
What TON’s reported activity figures show
Biggo also reports that TON averaged 4.06 million daily transactions during October and added approximately 2.73 million wallets that month. It says this was TON’s strongest monthly wallet addition since October 2024. The year for the October figures isn’t specified.
Biggo reports an average of 37, 693 daily stablecoin users in October, up 23.44% from September. The report doesn’t say which stablecoins were counted, define a “daily stablecoin user, ” or name the data provider. These figures are best treated as reported indicators, not independently verified measures of adoption.
Each metric answers a different question. Wallet additions don’t necessarily represent unique people. A transaction count doesn’t show how much value moved or whether the activity involved everyday payments. And a count of daily stablecoin users, on its own, says nothing about how often those users transact or how much they transfer.
That distinction matters. A burst of registrations can look impressive without showing whether users returned, made payments, or generated sustained economic activity. Clearer evidence would include dated figures, transparent definitions, measures of repeat use, and transaction values.
Key questions about Telegram’s crypto wallet
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How many wallet registrations were reported?
More than one million in 48 hours, according to Biggo’s account of Durov’s X announcement and its accompanying dashboard.
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Does that mean one million active users?
No. The count doesn’t show how many registrations belong to unique people, how many wallets were used, or how many users returned.
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How are wallets said to activate?
Biggo says a wallet can activate when a user receives “Grams.” The exact asset, product flow, and any action required from the recipient aren’t clear from the available information.
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What makes Telegram’s wallet potentially different?
It could reach users inside an app they already use, sparing them from finding and setting up a separate wallet. That’s a potential distribution advantage, not proof of broad adoption.
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What do TON’s October figures establish?
Biggo reports transaction, wallet-addition, and stablecoin-user figures, but doesn’t specify the year, definitions, or underlying data provider. The metrics don’t prove widespread payments or sustained use on their own.
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What would show meaningful adoption?
Dated, clearly defined evidence of repeat users and ongoing economic activity, including transaction values and payment use, would tell us more than registration totals alone.
Distribution is a head start, not proof of adoption
Telegram’s existing audience could make it easier to put a wallet in front of potential users. The reported registration milestone shows the scale embedded distribution can reach, but it doesn’t tell us whether that reach will lead to lasting use.
The better test is whether people return to make payments, transfer stablecoins, or use other services, and whether transparent, dated data can confirm that activity. Until then, wallet registrations show access, not adoption.
