- Crypto asset manager Pantera Capital has announced its investment in layer-1 altcoin TON, sparking a modest rally for the asset.
- TON is the native token for a layer-1 blockchain initially developed by encrypted messaging platform Telegram, but now managed by The Open Network.
- Despite Telegram parting ways with the project in 2020, TON can still be sent by Telegram’s 700 million users within the platform without entering long wallet addresses.
Pantera Capital invests in TON, the native token for a blockchain initially developed by Telegram. The investment sparks a rally for the asset, highlighting the potential of TON to introduce crypto to the masses.
Pantera Capital’s Investment in TON
Pantera Capital, a leading crypto asset manager, announced its investment in TON, the native token for a layer-1 blockchain initially developed by Telegram. The announcement triggered a modest rally for the asset, with TON trading around $4.75 in the early morning hours on Friday to $5.16 at the time of writing, an increase of more than 8.5%.
TON’s Connection to Telegram
Despite Telegram parting ways with the project in 2020 following a legal battle with the U.S. Securities and Exchange Commission (SEC), TON can still be sent by Telegram’s 700 million users within the platform without entering long wallet addresses. This connection to Telegram was a key factor in Pantera’s decision to invest in the project, according to Ryan Barney, a partner at the crypto asset manager.
TON’s Potential to Introduce Crypto to the Masses
“We believe TON has the capacity to introduce crypto to the masses because it is used extensively within the Telegram network. Telegram has over 900 million monthly active users on its future-facing, fast, and secure messaging platform that is used for personal and group communications, large-scale community building, content sharing, and more. 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,” Barney said.
Conclusion
Pantera Capital’s investment in TON underscores the potential of the altcoin to introduce crypto to the masses, leveraging Telegram’s vast user base. As the crypto market continues to evolve, investments like these highlight the growing recognition of the potential of blockchain technology and the digital assets it supports.
