- Pantera Capital, a major venture capital firm, has announced its investment in The Open Network (TON).
- According to the firm, the altcoin project has the potential to introduce cryptocurrency to the masses.
- Following this development and the positive market sentiment, TON jumped to the 9th position.
Pantera Capital invests in TON, an altcoin project with the potential to introduce cryptocurrency to the masses, pushing it to the 9th position in the market.
Pantera Capital Invests in TON
Pantera Capital announced on Thursday that it believes TON has the capacity to introduce cryptocurrency to the masses due to its widespread use on the Telegram network. Pantera’s investment in TON comes alongside Layer 1 Blockchain’s recent attention. In February, Telegram announced its decision to share ad revenues with channel owners. It also revealed plans to pay rewards using the Toncoin (TON) token. Telegram recently implemented this plan, allowing users to purchase in-platform ads with TON.
TON’s Potential for Mass Adoption
Considering Telegram has over 900 million active users monthly and more than a trillion views on channels each month, TON could potentially facilitate mass adoption of cryptocurrency, according to Pantera Capital. The firm stated, “We believe the TON network is still in its early stages. We are also excited to witness the adoption of its ecosystem and new features by the Telegram user base.”
Altcoin Price Reacts Positively to Investment News
Telegram recently enabled Tether (USDT) stablecoin payments through the TON Blockchain. This means Telegram users can now make USDT payments to each other over the TON network. Pantera Capital noted, “The scalability of the TON network allows for a fixed fee of ~$0.10 for transactions between two users. This is 66% cheaper than other crypto payment platforms. Additionally, to make access and use even easier, built-in ramps and off-ramps, including bank transfers and exchanges, are being offered.”
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Conclusion
Pantera Capital’s investment in TON and the positive market reaction highlight the potential of the altcoin for mass adoption. As one of the world’s largest and most active crypto venture capital firms, Pantera Capital continues to invest in promising crypto ventures, demonstrating its confidence in the future of the industry.
