The trading volume of NFT gifts in Telegram exceeded $104 million in a single day, surpassing Ethereum. According to Dune Analytics, the TON ecosystem has become the global leader in daily NFT transaction volume. The sharp rise in activity is linked to the spread of Telegram Stars, the platform’s internal token used in games and applications.
How the Telegram Gifts Market Works
Telegram Gifts are created as off-chain items that can be converted into full-fledged on-chain NFTs after 21 days. To bypass this waiting period, users began actively trading gifts on off-chain platforms, which led to a sharp increase in transaction volumes. In total, trades on marketplaces amounted to $104.464 million.
The most liquid marketplace was TONNEL Marketplace, which accounted for $59.684 million in volume. It was followed by Portals ($24.259 million), Getgems ($5.952 million), MRKT ($5.255 million), and Fragment ($4.392 million). Commissions across platforms range from 0% to 10%.
What Is Being Sold and at What Prices
The most expensive sale to date was Plush Pepe #752, sold for $37.4 thousand (on-chain, via the daolama platform).
Among the most popular collections are:
Other collections currently trending include Swiss Watches, Precious Peaches, Spy Agarics, Perfume Bottles, and Heart Lockets—each showing a sharp increase in value from their initial price.
User Base and Transaction Structure
Since the launch of Telegram Gifts, more than 229,000 unique wallets have participated in transactions. The total number of users interacting with the ecosystem exceeds 42,000. The amount of collateral on marketplaces reached $3.182 million, while trading fees amounted to $321 thousand.
The most active traders hold hundreds of NFTs. For example, address EQC0By...v6q3 made 96 purchases totaling $505.5 thousand, and EQDuYe...4nWm executed over 17,000 transactions totaling $434.9 thousand. The leading collections by volume remain Plush Pepes, Toy Bears, and Durov’s Caps.
History and Context
Previously, Pavel Durov stated that the TON ecosystem had become the second-largest in the world in terms of NFT transaction volume, trailing only Ethereum. Now, TON has taken the top spot. The growth of Telegram Gifts has become a key component of the internal economy of Telegram Stars, tokens used in mini-games. Some anonymous players have extracted up to $2 million from this economy.
This post is for informational purposes only and is not an ad or investment advice. Please do your own research making any decisions.
