Pantera Capital Backs TON Blockchain, TON Price Soars 10%

Coingapestaff
May 2, 2024 Updated October 24, 2024
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Toncoin Price forecast:

Highlights

  • Pantera Capital's investment in The Open Network (TON) blockchain triggers a 10% surge in TON price, reflecting growing investor confidence.
  • TON, initially developed by Telegram, gains traction within Telegram's 900 million monthly active users, with recent integration of Toncoin (TON) tokens for ad revenue sharing.
  • Pantera Capital expands its investment strategy, raising a new $1.25 billion fund (Fund V) to support crypto assets like TON, underscoring its commitment to fostering growth in the crypto market.

Pantera Capital, a leading crypto venture capital firm, has recently invested in The Open Network (TON) blockchain. TON, initially developed by Telegram, has gained significant traction within the Telegram network, boasting over 900 million monthly active users. Recent updates include Telegram’s integration of Toncoin (TON) tokens for ad revenue sharing and rewards distribution. TON has notably surged 9.6% sequel to the announcement.

Pantera Capital believes TON holds immense potential to introduce cryptocurrencies to a wider audience, leveraging Telegram’s vast user base and recent adoption of TON for in-platform ads and Tether (USDT) payments. The firm anticipates continued growth and adoption of TON among Telegram users, emphasizing its scalability and cost-effectiveness for transactions.

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Pantera Capital’s Diverse Investment Strategy and Fund Expansion

Pantera Capital’s investment in TON aligns with its diversified investment approach, which extends to acquiring discounted Solana (SOL) tokens. Additionally, the firm is in the process of raising a new $1.25 billion fund (Fund V) to invest in various crypto assets, including startup equity Block’sand liquid tokens.

Fund V aims to attract qualified investors with a minimum investment requirement of $1 million, with the first close scheduled for Apr. 1, 2025. Pantera Capital’s commitment to expanding its investment portfolio is evident in its efforts to support the growth of promising crypto projects like TON, reflecting the firm’s proactive stance in the evolving crypto market landscape.

Also Read: MoonPay Expands To US In New Alliance With PayPal

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TON Price Surge with Growing Market Cap

TON has experienced a surge in popularity, now ranking as the 10th largest cryptocurrency with a market cap of $17.6 billion. Trading at approximately $5.10 per token according to Coingecko Toncoin Price Page, TON’s rise underscores its growing prominence in the crypto landscape.

The price of Toncoin (TON) is $5.10 today with a 24-hour trading volume of $275.1 Million. This represents a 9.57% price increase in the last 24 hours. With a circulating supply of 3.5 Billion TON.

Pantera Capital’s investment in TON further highlights the network’s potential, propelled by its scalability and cost-efficient transaction fees. These factors position TON as a competitive option for crypto payments and transactions, contributing to its ascent in the market rankings.

Also Read: US Lawmakers Push SEC Chair To Greenlight Bitcoin ETF Options

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.