Telegram’s built-in Wallet service is closing in on a monumental 1 billion user milestone, driven by the platform’s deep integration with the TON blockchain. This development has coincided with an explosive 80% weekly price rally for Toncoin (TON), which now trades around $2.38 after soaring from $1.35.
According to official data, Wallet in Telegram processed over $1 billion in perpetual futures trading volume during the last month alone. The surge in activity is largely attributed to Telegram founder Pavel Durov’s confirmation that the messaging giant will become the primary developer and largest validator for TON. The move connects TON directly to Telegram’s ecosystem of over 1 billion users and includes staking millions of TON tokens.
Simultaneously, network upgrades from the “Make TON Great Again” roadmap have dramatically reduced transaction fees to approximately $0.0005 and slashed block finality times to around 400 milliseconds—making the blockchain ideal for micropayments, mini-apps, and NFT activity. Daily network transactions have already surpassed 1.2 million.
Adoption metrics are soaring. Telegram’s NFT Gifts feature has crossed 3 million users through Fragment, effectively creating 3 million TON wallets without users needing to download separate apps or manage seed phrases. Crypto analyst aixbt noted this represents just 0.3% of Telegram’s 900 million monthly active users; a rise to 1% penetration would put TON wallets above peak OpenSea and Axie Infinity user counts.
Trading volume and open interest have hit record highs, with more than $37 million in short liquidations occurring within a four-hour window, amplifying the rally. However, risks remain: TON faces potential regulatory pressure from its past SEC dispute and a monthly token unlock of roughly 36.59 million TON ($75 million), which could weigh on future price advances. Still, the bullish narrative is fueled by Telegram’s exclusive use of TON for Mini Apps, upcoming upgrades like TON Pay 2.0 for sub-second payments, and Builders Portal 3.0 to accelerate development.
The price chart shows the rally cooling from highs near $2.80 to $2.40, with the crucial support level at $2.10. If Telegram continues embedding TON across payments, NFTs, and mini-apps, analysts see a potential push toward $3.20, though consolidation between $2.10 and $2.60 remains the most likely short-term scenario.
