Pantera Capital, a leading crypto venture capital firm, as of late contributed to the Open Network (TON) blockchain. Even though the amount was not unveiled, the stage has shared its excitement for investing in TON, which is fundamentally driven by its widespread use on Telegram.
Read CRYPTONEWSLAND onPantera Capital suggests that TON could introduce crypto to the large public. TON, originally developed by Telegram, has gained significant traction within the Telegram network, with more than 900 million monthly active users.
Recent updates include the integration of Telegram’s Toncoin (TON) token for ad revenue sharing and reward distribution. TON in particular surged more than 10% following the announcement.
Ryan Barney, Senior Investment Associate and Investor at Pantera Capital, shared X’s post revealing the company’s initial investment in TON. He wrote that he believes TON, which can leverage its network of 900 million monthly active users, can truly introduce crypto to the masses. TON’s recent adoption of in-platform advertising and Tether (USDT) payments. They assert that Telegram is the only social platform “free from regulatory hurdles to incorporate Web3 for an open blockchain network.”
The company anticipates continued growth and adoption of TON among Telegram users, emphasizing its scalability and cost-effectiveness for transactions. TON is a blockchain initiative built by Telegram.
It is outlined as a decentralized organization able to support different applications. The TON ecosystem is broad and incorporates TON Blockchain, TON Storage, TON DNS, and TON Services. Among these elements, the backbone of TON Network is TON Blockchain.
Pantera Capital’s investment in TON is in line with its diversified investment approach, which extends to acquiring discounted Solana (SOL) tokens. Additionally, the company is in the process of raising a new fund of $1.25 billion (Fund V) to invest in various crypto assets, including Block startup equity and liquid tokens. Fund V aims to pull in qualified financial specialists with a least speculation prerequisite of $1 million, with to begin with closing planned for April 1, 2025.
Pantera Capital’s commitment to growing its venture portfolio is clear in its endeavors to back the development of promising crypto ventures like TON, reflecting the company’s proactive position within the ever-evolving crypto market landscape.
On the other hand, the TON price jumped 10.86% within 24 hours. Also, TON has seen a surge in notoriety, presently positioning as the 10th biggest cryptocurrency with an advertising cap of $17.6 billion. Trading at around $5.38 per token, TON’s rise underscores its expanding noticeable quality within the crypto scene.
Overall, Pantera Capital’s investment in TON advance highlights the network’s potential, driven by its versatility and cost-effective exchange expenses. These variables position TON as a competitive choice for crypto installments and exchanges, contributing to its rise within the market rankings.
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