Toncoin Soars 32% On The Back Of Pantera Capital’s Mega-Investment
10 Mayo 2024 - 10:00AM
NEWSBTC
Toncoin (TON), the native token of the Telegram Open Network (TON),
is experiencing a meteoric rise after a major investment from
venture capital giant Pantera Capital. The news sent positive vibes
through the crypto market, propelling TON’s price over 30% in the
weekly timeframe, and reigniting investor enthusiasm for the
project. Source: Coingecko Related Reading: $20 On The Horizon For
XRP? Unpacking A Potential 650x Surge And What It Means Pantera
Bets Big On TON’s Mass Adoption Potential Pantera Capital, a leader
in blockchain investments, has made a significant move by placing a
hefty bet on the Toncoin ecosystem. While the exact investment
amount remains undisclosed, industry whispers suggest it could
surpass the $250 million Pantera spent on discounted Solana (SOL)
tokens last year. This strategic investment underscores Pantera’s
belief in TON’s potential to become a mainstream cryptocurrency.
Source: Pantera Capital “We’ve invested heavily in TON because it
has the unique ability to introduce crypto to the masses,” declared
Pantera Capital in a recent blog post. They point to TON’s seamless
integration with Telegram, a messaging app boasting a staggering
user base exceeding 800 million. Pantera envisions TON leveraging
Telegram’s user-friendly interface and vast user pool to become a
dominant force in the crypto landscape. Total crypto market cap
currently at $2.2 trillion. Chart: TradingView TON Price Rallies On
Positive Developments Pantera’s bullish stance on TON comes on the
heels of a series of positive developments for the project. At the
recent Token2049 conference in Dubai, Telegram co-founder Pavel
Durov unveiled a roadmap for integrating TON functionalities
directly within the Telegram app. This includes plans to allow
users to log in to their Telegram accounts using crypto wallets,
further blurring the lines between traditional messaging and the
world of blockchain. TON seven-day price action. Source: Coingecko
The news of Pantera’s investment, coupled with Telegram’s
commitment to TON integration, fueled a buying frenzy in the TON
market. The token price surged near the $7 mark, inching closer to
its all-time high of $7.25. This price increase reflects renewed
investor confidence in TON’s future prospects. Related Reading:
Wells Notice Wallop: Robinhood Bleeds 164 Million Dogecoin In Mass
Exodus Overcoming Regulatory Hurdles: A Look Back Despite the
current wave of optimism, TON’s journey hasn’t been without
challenges. In 2019, the US Securities and Exchange Commission
(SEC) issued a restraining order against Telegram, effectively
blocking the launch of its planned Gram token. The SEC alleged that
the Gram ICO violated securities laws. However, the Telegram team
persevered, and the TON ecosystem continued to evolve with TON coin
emerging as its central currency. A New Chapter For Toncoin?
Pantera Capital’s investment and Telegram’s continued commitment to
TON integration mark a significant turning point for the project.
With a robust messaging platform as its foundation and the backing
of a prominent investment firm, TON is well-positioned to bridge
the gap between mainstream users and the world of cryptocurrency.
Featured image from GoodFreePhotos, chart from TradingView
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