Pantera Capital Invests in The Open Network (TON) Blockchain
Release: 2024/05/03 03:34 Reading: 213
A prominent venture capital firm in the crypto industry, Pantera Capital, has invested in The Open Network (TON) blockchain.
We are thrilled to announce our investment in TON – a layer 1 network designed by Telegram, for Telegram. We believe TON, which can leverage a network of 900 million monthly active users, can truly introduce crypto to the masses.
https://t.co/AzGxL5lpXc
— ryan.wallet (@Ryan__Barney) May 2, 2024
TON was first developed by Telegram and has achieved significant popularity within the Telegram network with over 900 million monthly active users.
Pantera Capital believes TON has a great deal of potential to spread awareness of cryptocurrencies by utilizing Telegram’s enormous user base and the platform’s recent adoption of TON for in-platform advertisements and Tether (USDT) payments.
One of the most recent developments is Telegram’s use of Toncoin (TON) tokens for rewards distribution and ad revenue sharing. TON has significantly increased by 9.6% since the announcement.
With a market valuation of $17.6 billion, TON is currently the tenth-largest cryptocurrency after experiencing a meteoric rise in popularity. Toncoin’s (TON) current price is $5.16, and its 24-hour trading volume is $275.1 million. This indicates a price rise of 8.18% over the previous day.
Pantera Capital’s acquisition of discounted Solana (SOL) tokens is consistent with its diverse investment approach, which includes the investment in TON. The company is also launching a new $1.25 billion fund, called Fund V, to invest in a variety of cryptocurrency assets, including liquid tokens and startup stock .
Also Read: TON Blockchain Slashes Transaction Fees by 2.5 Times
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