A fintech infrastructure is forming around Telegram gifts, including marketplaces where gift holders can buy and sell. Competition among these marketplaces is active and ongoing.

The market will resolve in favor of the marketplace that, as of 11:59 PM UTC on September 30, 2025, ranks first by cumulative gift turnover in USD.

Data source: the dune.com/rdmcd/telegram-gifts service, “Marketplaces volume” section, sorted by “Total turnover, USD” in descending order. If this source is unavailable, credible alternative data will be used.