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Recently, Pantera Capital has once again drawn attention with its statements and investments, spotlighting another initiative just hours ago. The initiative fundamentally involves 900 million users.
Pantera Capital’s Investment
Pantera Capital, a crypto venture capital firm managing over $5 billion in assets, has recently invested in The Open Network according to information released in the past few hours.
Pantera Capital shared the following statement on Thursday:
We believe TON, widely used on the Telegram network, has the capacity to introduce the masses to cryptocurrency.
TON is positioned as a Layer-1 blockchain, initially launched as a messaging platform by Telegram and advanced by the open-source community.
This investment in TON by Pantera followed recent heightened interest in the Layer-1 blockchain.
As of February, Telegram announced plans to share advertising revenues with channel owners and to make payments with Toncoin (TON). This project was recently implemented by Telegram, enabling users to purchase in-platform ads with TON.
An examination by Pantera Capital shows that Telegram has more than 900 million monthly users, while channels on the platform generate over one trillion views each month.
It is thought that TON could potentially make a significant contribution to the mass adoption of crypto perception. In this regard, the firm made the following statement:
We believe the TON network is still in its early stages, and we are excited to witness its ecosystem and new features being adopted by the Telegram user base.
Telegram recently announced the initiation of Tether (USDT) stablecoin payments through the TON blockchain. This means that people using Telegram can now make USDT payments through the TON network.
Another statement by Pantera Capital was as follows:
The scalability of the TON network allows for transactions between two users at a fixed fee of ~$0.10 – 66% cheaper than other crypto payment platforms. Additionally, built-in ramps including bank transfers and exchanges are being made available to further ease access and usage.
Toncoin (TON) Price Update
Following the announcement, attention turned to the price of Toncoin. TON, with a market value of $17.5 billion, ranks as the 9th largest cryptocurrency by volume.
As of this writing, TON has seen a 9% increase in the last 24 hours, trading at $5.070.
The 24-hour trading volume has decreased by 28% to $204 million, which could be interpreted as either the holders not wanting to sell or buyers not wanting to buy TON at these levels.
Recent developments and investments in TON are already sparking curiosity about what might happen next and what prices it could reach in a potential bull market.
