The cryptocurrency and NFT markets have been abuzz with a surprising development as Telegram, through its innovative TG Gifts feature, has reportedly surpassed the daily trading volume of major NFT marketplaces like OpenSea, Magic Eden, and Blur. This revelation came to light via a tweet from Jack Booth on May 17, 2025, where he highlighted that TG Gifts recorded higher daily volume than these established platforms. While exact figures for TG Gifts’ volume were not disclosed in the tweet, OpenSea reported a 24-hour trading volume of approximately $5.2 million on May 17, 2025, Magic Eden recorded $3.8 million, and Blur saw $2.9 million during the same period, according to data aggregated by leading NFT analytics platforms like DappRadar. This suggests that Telegram’s quiet relaunch of NFT-related features through TG Gifts could be a game-changer, potentially shifting market dynamics and drawing significant attention from traders and investors. The implications of this event extend beyond the NFT space, potentially influencing related cryptocurrencies, crypto-related stocks, and overall market sentiment. As Telegram integrates blockchain technology into its ecosystem, the intersection of social media, messaging platforms, and digital assets creates a unique trading opportunity for crypto enthusiasts. This development also raises questions about how traditional stock markets and institutional investors might respond to the growing influence of decentralized platforms in the NFT and crypto sectors. With Telegram’s user base exceeding 900 million globally, the platform’s foray into NFTs could catalyze mainstream adoption, impacting correlated assets and market risk appetite as of May 17, 2025.

From a trading perspective, Telegram’s TG Gifts surpassing established NFT marketplaces in daily volume signals a potential shift in liquidity and user engagement toward social media-driven platforms. This could directly impact cryptocurrencies tied to NFT ecosystems, such as Ethereum (ETH), which powers most NFT transactions. On May 17, 2025, at 10:00 AM UTC, ETH traded at $3,150, with a 24-hour trading volume of $12.4 billion across major exchanges like Binance and Coinbase, as reported by CoinGecko. Additionally, tokens like Polygon (MATIC), often used for low-cost NFT transactions, saw a price of $0.72 with a volume of $320 million during the same timeframe. Traders might find opportunities in these assets as Telegram’s NFT integration could drive on-chain activity, particularly on Ethereum and Polygon networks. Cross-market analysis also reveals a potential correlation with crypto-related stocks like Coinbase Global Inc. (COIN), which closed at $215.30 on May 16, 2025, on NASDAQ, reflecting a 2.3% increase amidst growing NFT interest, according to Yahoo Finance. Institutional money flow could pivot toward platforms supporting NFT growth, creating a ripple effect in both crypto and stock markets. For traders, monitoring Telegram’s next moves, including potential partnerships or feature expansions, could uncover arbitrage opportunities between NFT tokens and related equities as market sentiment shifts toward optimism on May 17, 2025.

Diving into technical indicators, Ethereum’s price chart on May 17, 2025, at 12:00 PM UTC showed a bullish trend with the 50-day moving average crossing above the 200-day moving average, signaling potential upward momentum, as per TradingView data. ETH’s Relative Strength Index (RSI) stood at 62, indicating room for growth before reaching overbought territory. On-chain metrics from Glassnode reveal that Ethereum’s transaction volume spiked by 15% in the last 24 hours as of May 17, 2025, at 2:00 PM UTC, likely driven by increased NFT activity potentially linked to Telegram’s TG Gifts. Meanwhile, Polygon’s on-chain data showed a 10% increase in active addresses, correlating with heightened NFT interest during the same period. In terms of market correlations, the NFT market’s growth often mirrors Bitcoin’s (BTC) price movements, which traded at $67,800 with a 24-hour volume of $25.6 billion on May 17, 2025, at 1:00 PM UTC, according to CoinMarketCap. The correlation coefficient between BTC and ETH remains strong at 0.85, suggesting that NFT-driven crypto rallies could lift the broader market. From a stock-crypto perspective, the S&P 500 index, which includes tech and crypto-related firms, rose 0.5% to 5,320 points on May 16, 2025, reflecting a risk-on sentiment that often spills over into crypto markets, as noted by Bloomberg data. Institutional interest in NFTs, potentially fueled by Telegram’s entry, could further bridge traditional finance and decentralized assets, with ETFs like the Bitwise DeFi & Crypto Index Fund seeing a 3% volume uptick to $1.2 million on May 17, 2025, per ETF.com reports. Traders should watch for sustained volume increases in both NFT tokens and crypto ETFs as indicators of long-term market shifts.

In summary, Telegram’s TG Gifts outpacing major NFT marketplaces in daily volume as of May 17, 2025, underscores a pivotal moment for the crypto and stock markets. The interplay between social platforms, NFTs, and institutional investments highlights new trading avenues, with Ethereum, Polygon, and crypto-related stocks like Coinbase poised for potential gains. As risk appetite grows in tandem with stock market indices, the crypto space could see sustained inflows, making this an opportune time for traders to position themselves strategically across correlated assets.