Pantera Capital is raising funds to invest in Toncoin The Open Network (TON), signaling strong confidence in the token's future.
The new initiative aims to attract significant investment and increase Pantera's Toncoin token holdings.
Pantera Capital will increase Toncoin resources Pantera Capital will increase Toncoin resources
An email from Pantera Capital to potential investors outlines the details. He invites them to participate in the Pantera “TON Investment Opportunity” until June 21, with a minimum commitment of USD 250,000 per investor.
The move follows Pantera's largest-ever investment in TON, which was completed in March at a significant discount. The company's decision to double its commitment to Toncoin reflects its optimistic stance on the token's potential growth. Ryan Barney, partner at Pantera, said last month: “We believe the TON network is still in its early stages of development and we are excited to see the adoption of its ecosystem and new features by Telegram's user base. At its core, Telegram embodies the ethos of cryptocurrency: an open, free network now available to everyone. With TON, Telegram achieves a symbiotic relationship where scalable smart contract functionality and a robust payments network enable breakthrough capabilities that were unattainable in a Web2 environment.” Similarly, cryptocurrency analyst Marteen believes that The Open Network has seen impressive growth, with several key metrics highlighting its growing popularity.
For example, TON's transfer volume, ranging between $5 billion and $10 billion, indicates that the network has achieved approximately 10% of Bitcoin's throughput, a remarkable achievement for a four-year-old cryptocurrency. Moreover, the number of TON holders on the chain has increased from 2.9 million to 32 million over the last year. Marteen wrote: “On-chain TON rates are going up! … There are now 32 million owners, up from 2.9 million a year ago. This represents a 10-fold increase in just one year, highlighting the growing popularity of the TON token. Also noteworthy is the recent increase in activity on the TON network. Toncoin has overtaken Ethereum in terms of daily active addresses for 10 of the last 11 days. This growth is partially attributed to Telegram's massive user base of 900 million. This was a key factor that contributed to the increase in TON user engagement.
Despite these promising developments, some analysts are debating the long-term sustainability of TON's growth compared to the established #Ethereum ecosystem and scaling solutions. The Ethereum network remains strong with extensive infrastructure and a strong user base, posing a challenge for further expansion #TON
