• Pantera Capital launches a new fund to invest heavily in Toncoin from The Open Network, signalling confidence in TON’s potential.

  • Pantera’s recent major TON purchase and the surge in TON blockchain activity highlight the network’s rapid growth.

  • Telegram-based mini-apps like Notcoin and Hamster Kombat drive TON’s popularity, despite potential bot activity inflating user numbers.

Pantera Capital, a prominent cryptocurrency venture firm, is making headlines with its new funding drive. The firm aims to invest heavily in Toncoin (TON) from The Open Network. Known as the “Pantera TON Investment Opportunity,” this fund aims to attract capital to support Pantera’sTON investment.

Potential investors must express interest by June 21, with a minimum investment of $250,000. When contacted by The Block, Pantera declined to provide further details. This investment follows Pantera’s major TON purchase in March, acquired at a discount to the spot price. The firm announced this investment in May but kept specifics under wraps.

Pantera Capital is raising funds for its second TON token investment. Pantera sent an email to potential investors earlier this week, and interested parties have been asked to fill out a form by June 21, with a minimum investment of $250,000. https://t.co/VFuzzFRYUt

— Wu Blockchain (@WuBlockchain) June 22, 2024

Pantera’s optimism towards TON’s potential remains high. Ryan Barney, a partner at Pantera, stated, “We think the TON network is still in its infancy, and we are eager to see how the Telegram user base will embrace its ecosystem and new features.”

In 2019, Telegram landed itself in legal trouble when it released the Telegram Open Network. The US Securities and Exchange Commission charged that Telegram’s “Grams” tokens violated federal securities laws.Telegram and TON Issuer Inc., a subsidiary, consented in 2020 to reimburse investors $1.2 billion and pay a $18.5 million civil penalty. The Telegram-backed open-source community persisted in creating the TON blockchain in spite of these obstacles.

Surge in TON Blockchain Activity and Market Cap

Both transactions and users on the TON blockchain have surged recently. Tether’s USDT stablecoin launched on the TON network in April and gained traction faster than on any other blockchain. Two months later, over 400 million USDT tokens are active on TON.

Additionally, Telegram-based gaming mini-apps have soared in popularity. Notcoin and Hamster Kombat, boasting millions of players and daily active users, exemplify this trend. Notcoin had 35 million players and about 10 million daily active users within five months. Hamster Kombat attracted 100 million players and 40 to 45 million daily active users. However, these figures might include bot activity.

Toncoin, valued at over $17.5 billion, is now the tenth-largest cryptocurrency. Its current price is $7.16, showing a slight increase of 0.77% from yesterday but a decrease of 5.50% over the past week, according to CoinMarketCap.

Pantera Capital’s Broader Investment Strategy

Besides focusing on TON, Pantera Capital, managing around $5 billion in assets, is launching a $1 billion Fund V. This fund will invest in venture capital, early-stage tokens, exceptional opportunities, and liquid tokens. Previously, Alena Shmalko from TON highlighted the ecosystem’s ambition to reach 500 million users within four years.

Read also:

  • TON Surges 405% Following Pantera Capital’s Discloses TON Investment, Is This the Start of Crypto’s New Rally?

  • Pantera Fund V Targets $1 Billion to Fuel Blockchain Asset Diversification

  • What Does Pantera Capital’s Monumental Investment in TON Mean, Everything You Need To Know

  • Bitwise Updates Ether ETF Filing, Pantera Eyes $100M Investment

  • Pantera Capital’s TON Investment Propels Crypto to New Heights

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