- American hedge fund Pantera Capital has invested an undisclosed amount in The Open Network (TON).
- The investment is driven by TON’s connection with Telegram, a platform with over 900 million monthly active users.
- Following Pantera Capital’s investment, TON’s native token, Toncoin (TON), has surged by 12%.
Pantera Capital invests in The Open Network (TON), driving a 12% surge in TON’s native token, Toncoin. The investment is seen as a strategic move to leverage TON’s connection with Telegram’s vast user base.
Pantera Capital’s Groundbreaking Investment in TON
In an official blog dated May 2, American hedge fund Pantera Capital announced its first investment in The Open Network (TON). The amount remains undisclosed, but the firm expressed its enthusiasm for investing in TON, largely due to its extensive use within the Telegram platform.
TON’s Potential to Introduce Crypto to a Large Public
Pantera Capital believes that TON can introduce crypto to a large public, given its connection with Telegram, which boasts over 900 million monthly active users. The firm stated, “By leveraging Telegram’s vast user base and seamless UX with the vibrancy of TON’s emerging ecosystem, we believe TON has the potential to become one of the largest crypto networks.”
TON: A Blockchain Initiative by Telegram
TON is a blockchain initiative built by Telegram. It is designed as a decentralized network capable of supporting multiple applications. The TON ecosystem includes TON Blockchain, TON Storage, TON DNS, and TON Services, with TON Blockchain being the backbone of the network.
Toncoin’s Surge Following Pantera Capital’s Investment
Following Pantera Capital’s investment, the TON network’s native token, Toncoin (TON), has surged by 12% over the last 24 hours. Currently trading at $5.32, TON has experienced a monthly increase of more than 7% despite a marginal decline of 0.65% over the last week.
Conclusion
Pantera Capital’s investment in TON highlights the potential of the network to introduce crypto to a large public, leveraging Telegram’s vast user base. The investment has already led to a surge in TON’s native token, indicating the possible growth and expansion of the network in the future.
