The Telemetrio 2025 report includes some interesting numbers.

On one hand, the number of wallets connected to bot and mini-app revenues has grown almost 10× compared to 2024 —
from 274 wallets to around 2,500 wallets.

But the more interesting part is this 👇

In October 2024, these wallets generated about 2.5 million TON in revenue.
By October 2025, that number increased to 5 million TON.

At first glance, this looks like strong growth.
But once you factor in the price of TON, the picture changes.

During the same period, TON’s price dropped from around $5 to $2.

So in USD terms, there was no real growth —
in fact, it was effectively negative growth.

In simple terms:
even though the number of wallets and participants increased significantly,
the actual economic impact didn’t improve.

More developers and businesses entered the game,
but the total value created stayed flat — or even declined.

The numbers grew.
The real money didn’t.