I'm not sure if you're talking about the market after the presale or not. All the tokens have so far been created and sold directly by Telegram. They have sold

I'm not sure if you're talking about the market after the presale or not. All the tokens have so far been created and sold directly by Telegram. They have sold $1.7b worth of tokens to investors. It doesn't matter what those investors now sell the tokens at, and even if price drops to 0 Telegram still got the money from the investors.