As TON attracts attention with its recent impressive developments, $5.2 billion venture capital firm Pantera Capital has invested in The Open Network blockchain.

TON is a Layer 1 blockchain network originally designed by messaging platform Telegram and later taken over by the open source community.

In February, Telegram revealed plans to share advertising revenue with channel owners and pay rewards in Toncoin (TON) tokens. Additionally, users can also purchase advertising within the platform using TON.

According to Pantera Capital, with Telegram's massive reach of over 900 million monthly active users and over 1 trillion views across channels each month, TON has the potential to bring widespread adoption to cryptocurrency. death.

“We believe that TON has the potential to introduce cryptocurrency to the masses as it is widely used in the Telegram network.”

“The TON network is still in its early stages and we are excited to see the Telegram user base adopt the ecosystem and new features.”

Telegram also recently allowed users to make payments using stablecoin USDT through the TON blockchain.

“The scalability of the TON network allows for fixed fees of ~0.1 USD for transactions between two users – 66% cheaper than other crypto payment platforms. Additionally, the built-in on-ramp and off-ramp offering, including bank transfers and exchanges, is facilitating access and usage.”

TON recently became the 10th largest cryptocurrency, with a market capitalization of $16.8 billion, and is currently trading at $5.12 after gaining more than 8% on the day.

TON price chart. Source: TradingView

Pantera Capital is growing strongly

Pantera Capital's investment in TON comes as the company purchases an additional batch of discounted Solana (SOL) tokens auctioned by FTX Estate.

Pantera is also raising a new $1.25 billion fund to invest in startup equity, early-stage tokens, liquidity tokens and other assets, as Bitcoin Magazine reported.

Founded in 2003, Pantera Capital is one of the largest and most active cryptocurrency venture capital firms in the world. To date, the company has invested in more than 180 cryptocurrency startups.



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