The popularity of Telegram has surged with time, most recently the founder noted that the platform generated $ 1 billion in revenue in the ongoing year.
An X post by Durov Pavel dated December 23, 2024 notes that, ” Telegram’s total revenue in 2024 surpassed $1 billion, and we are closing the year with more than $500 million in cash reserves, not including crypto assets.”
Source: X
The same post further reads that Telegram’s premium customers have tripled and reached a new milestone.
Following the statement of Durov, market experts argue that the surge in the number of premium users of the platform could be primarily driven by the usage of the platform in crypto-related activities.
He praised the multiple monetization strategies of Telegram which solely helped the platform to acquire a fresh milestone in premium subscription service which now has 12 million active users. The platform strengthened the user base by its advertising approach, contributing to the surge in revenue.
Available information notes that Telegram introduced paid content channels, enhanced its video services, and introduced ad-supported features.
Since the beginning of 2024, Telegram has continued to maintain its position in the crypto market. Recent data reveals a notable increase in its share within the Web3 gaming industry.
Telegram to surpass the userbase of Instagram in Crypto!
Telegram and Instagram are some of the most used platforms by individuals involved in crypto to carter masses. Despite their positive applications, bad actors have often leveraged these platforms to target and deceive innocent users.
It ranks as one of the most popular platforms among those in the crypto community, with several reports highlighting its preference in the industry. Instagram, Telegram, Discord, and others are frequently linked to fraudulent activities, scams, and illicit operations, with hundreds of such cases being reported daily.
Since the start of 2024, there has been a rise in incidents involving the hacking of Instagram accounts belonging to prominent individuals.
These hacked accounts are being used to spread false information about newly launched cryptocurrencies or to promote fraudulent coins and tokens, aiming to deceive and defraud their followers.
Does Telegram have any direct involvement in Crypto?
According to publicly available information, Telegram is directly involved in cryptocurrencies as it launched its TON blockchain in 2018, which became the most popular in the wider market.
With the passing of time, the project faced many challenges including regulatory and enforcement uncertainty, leading to the complete Shitcoins of TON.
Telegram has partnered with various crypto exchanges, wallets, and platforms to enhance its users’ experience.
It has joined hands with crypto exchanges like Binance and Huobi, enabling users to trade crypto directly within the application.
The platform reportedly hosts numerous crypto-focused communities and channels, allowing users to discuss, share information, and stay updated on the latest crypto news and trends.
Telegram remains a popular hub for crypto enthusiasts and continues to explore ways to integrate blockchain technology and crypto functionality into its services.