Pantera Capital, a leading crypto venture capital firm, has recently invested in The Open Network (TON) blockchain. TON, initially developed by Telegram, has gained significant traction within the Telegram network, boasting over 900 million monthly active users. Recent updates include Telegram’s integration of Toncoin (TON) tokens for ad revenue sharing and rewards distribution. TON has notably surged 9.6% sequel to the announcement.

Pantera Capital believes TON holds immense potential to introduce cryptocurrencies to a wider audience, leveraging Telegram’s vast user base and recent adoption of TON for in-platform ads and Tether (USDT) payments. The firm anticipates continued growth and adoption of TON among Telegram users, emphasizing its scalability and cost-effectiveness for transactions.

Pantera Capital’s Diverse Investment Strategy and Fund Expansion

Pantera Capital’s investment in TON aligns with its diversified investment approach, which extends to acquiring discounted Solana (SOL) tokens. Additionally, the firm is in the process of raising a new $1.25 billion fund (Fund V) to invest in various crypto assets, including startup equity Block’sand liquid tokens.

Fund V aims to attract qualified investors with a minimum investment requirement of $1 million, with the first close scheduled for Apr. 1, 2025. Pantera Capital’s commitment to expanding its investment portfolio is evident in its efforts to support the growth of promising crypto projects like TON, reflecting the firm’s proactive stance in the evolving crypto market landscape.

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TON Price Surge with Growing Market Cap

TON has experienced a surge in popularity, now ranking as the 10th largest cryptocurrency with a market cap of $17.6 billion. Trading at approximately $5.10 per token according to Coingecko Toncoin Price Page, TON’s rise underscores its growing prominence in the crypto landscape.

The price of Toncoin (TON) is $5.10 today with a 24-hour trading volume of $275.1 Million. This represents a 9.57% price increase in the last 24 hours. With a circulating supply of 3.5 Billion TON.

Pantera Capital’s investment in TON further highlights the network’s potential, propelled by its scalability and cost-efficient transaction fees. These factors position TON as a competitive option for crypto payments and transactions, contributing to its ascent in the market rankings.

Also Read: US Lawmakers Push SEC Chair To Greenlight Bitcoin ETF Options

The post Pantera Capital Backs TON Blockchain, TON Price Soars 10% appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am