700,000 people rushed to open wallets on Telegram in two days, yet the token price fell 12% in a week—users came, but where’s the money?
Durov posted yesterday: Telegram gained more than 700,000 self-custodial wallets in 48 hours, including 330,000 in a single day on November 9. A wallet activates automatically when it receives its first Gram.
But a closer look tells a different story: many of those 700,000 are empty wallets. Just over 200,000 wallets across the platform have a balance, TVL on the TON blockchain is only $42 million, and daily active wallets number just over 280,000.
The token price is telling, too: $TON is currently just above $1, down 12% in a week and still 87% below its August 2024 high of $8.25.
But there’s another side to the story: a pool of real users. Telegram has 900 million users, and opening a wallet puts it right at the entry point. When the US CPI data comes out tonight at 21:30, the whole market will have to pick a direction—and the $1 mark is right underfoot.
A: The user base is future buying power; buy the dip at $1 now. B: Empty wallets don’t spend money, and $42 million in TVL shows nobody’s really using it. Wait until it falls below $1. Which side are you on?
$TON
#Telegram #TON #Wallet
Durov posted yesterday: Telegram gained more than 700,000 self-custodial wallets in 48 hours, including 330,000 in a single day on November 9. A wallet activates automatically when it receives its first Gram.
But a closer look tells a different story: many of those 700,000 are empty wallets. Just over 200,000 wallets across the platform have a balance, TVL on the TON blockchain is only $42 million, and daily active wallets number just over 280,000.
The token price is telling, too: $TON is currently just above $1, down 12% in a week and still 87% below its August 2024 high of $8.25.
But there’s another side to the story: a pool of real users. Telegram has 900 million users, and opening a wallet puts it right at the entry point. When the US CPI data comes out tonight at 21:30, the whole market will have to pick a direction—and the $1 mark is right underfoot.
A: The user base is future buying power; buy the dip at $1 now. B: Empty wallets don’t spend money, and $42 million in TVL shows nobody’s really using it. Wait until it falls below $1. Which side are you on?
$TON
#Telegram #TON #Wallet