Pavel Durov, Telegram’s chief executive, said more than 700,000 non-custodial Gram wallets were activated within 48 hours, with over 329,000 new addresses registered per day. The growth followed a sixfold reduction in TON network fees and the integration of a native Gram wallet into every Telegram application. The new addresses are mainly used for small transactions, including buying Telegram Premium, paying for in-app advertisements and settling peer-to-peer transfers. However, total value locked on the network stood at just $42.01 million, while Telegram’s validator weight is raising centralization concerns. The native wallet remains unavailable to US users, and Gram was trading at $1.05, more than 87% below its 2024 high of $8.25.
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