In a move signaling confidence in the future of Telegram’s blockchain network, Pantera Capital, a leading venture capital firm specializing in blockchain technology announced its largest ever investment in TON. The exact amount of the investment remains undisclosed.
Pantera Capital founder Dan Morehead said TON is the largest investment Pantera has ever made, but did not disclose the specific amount, nor the discounted price for purchasing TON tokens. Pantera had earlier said it would raise up to $250 million to purchase discounted SOL from…
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TON, originally designed by Telegram, is a Layer 1 blockchain network that has garnered significant attention due to its connection to the popular messaging app. Telegram boasts over 900 million monthly active users, a vast user base that Pantera Capital believes positions TON for mainstream crypto adoption.
Pantera Capital outlined several factors that contributed to their decision to invest in TON. First, they highlighted Telegram’s shared ethos with the core principles of cryptocurrency – a decentralized and open network accessible to all.
Additionally, TON’s scalability positions it to handle transactions for millions of users efficiently. Pantera Capital also cited the ease with which users can onboard to TON through Telegram’s built-in Wallet, enabling seamless interaction with mini-apps within the Telegram ecosystem.
The thriving mini-app ecosystem on Telegram was another key factor for Pantera. Over 360 million users engage with Telegram’s mini-apps monthly, indicating a significant user base primed to explore TON’s potential.
Pantera believes TON unlocks new avenues for Telegram users to generate income and participate in the digital economy. Finally, the recent integration of Tether’s USDT stablecoin on TON further streamlines financial transactions within the Telegram platform.
Pantera Capital views TON as a project in its early stages and expresses optimism for the future. They anticipate the Telegram user base to drive significant adoption of the TON ecosystem and its upcoming features.