Pantera Capital announced that it has invested in The Open Network (TON). According to the startup firm, the altcoin project has the capacity to introduce crypto to the masses. With the positive atmosphere in the market and the effect of this development, TON jumped to 9th place.
Crypto venture capital companyi liked TON and invested!
“We believe TON has the capacity to introduce crypto to the masses as it is widely used on the Telegram network,” Pantera Capital said in a statement on Thursday. Pantera’s investment in TON comes as Layer 1 Blockchain has been gaining attention recently. In February, Telegram announced its decision to share advertising revenues with channel owners. It also announced a plan to pay rewards using Toncoin (TON) token. Telegram recently implemented this plan. Thus, it allowed users to purchase in-platform advertising with TON.
Considering that Telegram has reached over 900 million monthly active users and more than 1 trillion views across channels each month, according to Pantera Capital, TON could potentially drive mass adoption of crypto. “We believe the TON network is still in its early stages,” the firm said. “We are also excited to witness the adoption of its ecosystem and new features by the Telegram user base.”
Altcoin price reacted positively to investment news
Telegram also recently enabled Tether (USDT) stablecoin payments via the TON Blockchain. This means that it is now possible for Telegram users to make USDT payments to each other via the TON network. Pantera Capital states, “The scalability of the TON network allows for a flat fee of ~$0.10 for transactions between two users. This is 66% cheaper than other crypto payment platforms. “In addition, built-in onramps and ramps, including bank transfers and exchanges, are being introduced to further facilitate access and use.” said.
Meanwhile, the altcoin price reacted positively to the investment news. TON reached a market capitalization of $17.135 billion, becoming the 9th largest cryptocurrency. At the time of writing, the altcoin was trading at $4.93, up 4.75% on a daily basis.
Pantera Capital continues investments at full speed
Pantera Capital is one of the largest and most active crypto venture capital firms in the world. According to the latest data, the firm has invested in more than 180 crypto startups to date. cryptokoin.comAs you follow from , Pantera Capital also recently purchased discounted Solana (SOL) tokens that were auctioned by the executives who oversaw the bankruptcy of the former FTX cryptocurrency exchange.
Pantera is also raising a new $1.25 billion fund. With this fund, it will invest in seed capital, early stage tokens, liquid tokens and other assets. The new Fund V has a minimum investment of $1 million for qualified investors. Additionally, the company plans for the first closing to occur on April 1, 2025. Limited partners will be required to contribute at least $25 million to the fund, according to the document.
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