PropellerAds says the Telegram Mini App ad market is growing quieter, and stronger. A year ago, much of the attention around Mini Apps came from click-heavy games, crypto buzz, and sudden user surges that looked impressive until they faded. New figures from the company suggest a different picture now. Utility tools, finance products, and commerce apps are starting to define the space, giving advertisers a channel that feels less frantic and more readable.
A smaller crowd, but steadier habits
Telegram Mini Apps drew huge attention during the tap-to-earn boom, when reward-driven products pulled in large volumes of casual traffic. PropellerAds says activity peaked at 1.44 billion monthly active users in September 2024, then settled into a lower range of roughly 150 million to 190 million by mid-2025. On paper, that looks like a retreat. For advertisers, it may be a sign of a market losing some noise.
The users who remain appear more likely to open an app for a reason. They are checking a wallet, using a tool, browsing a product, or returning to a service they already know. That kind of behavior matters more than a short-lived rush. A lower audience count can still be valuable when people stay longer and come back with intent.
Developer interest has not disappeared either. PropellerAds says the number of Mini Apps continues to rise month by month, even if growth is slower than during the early spike. That gives buyers more choices and widens the range of products competing for attention inside Telegram.
Finance and utility apps are changing the tone
The report shows that the category mix is starting to change. PropellerAds says iGaming still accounts for the largest share of impressions at 22.37 percent, but finance is close behind at 19.67 percent. E-commerce and media follow, adding more weight to a market once dominated by games and crypto-heavy products.
That matters because finance and utility apps behave differently from hype traffic. A user opening a payment tool, a shopping service, or a work-related app is usually there to do something practical. That creates a different kind of ad environment. Buyers are not just chasing volume. They are looking for users with clearer habits and stronger commercial intent.
The same pattern appears in the broader Mini App field. PropellerAds cites data showing that tools, utilities, and education apps are among the faster-growing categories, while some of the earlier game-led leaders are losing ground. The market is still young, but the mood is changing. Traffic tied to everyday use tends to hold more value than traffic tied to a fad.
Fraud concerns are shaping advertiser interest
Telegram advertising has long had a fraud problem around direct channel buys, fake follower counts, and cloned admin accounts. PropellerAds uses that weak spot to make its case for Mini App placements. The company argues that ads shown during real in-app activity are harder to fake than inflated channel views or bot-heavy audiences.
Its report says average click-through rates in selected markets range from the 20s to above 40 percent, while costs remain lower in many emerging countries than in Tier 1 markets. Those figures come from PropellerAds data, but the broader argument is clear: advertisers are starting to treat Mini Apps as a more measurable environment, especially when the audience is tied to actual use rather than passive channel exposure.
That may be the most important development in the market. Utility, finance, and commerce apps do not generate the same frenzy that game-led spikes once did. They offer something advertisers often value more: repeat use, clearer intent, and traffic that is easier to trust.