TON gains 14% amid Pantera Capital’s ‘largest investment ever’ claim

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As a crypto investor with some experience under my belt, I find Pantera Capital’s announcement of their significant investment in the TON ecosystem quite intriguing. With a track record of backing successful projects and a statement that this is their largest investment to date, it gives me confidence in TON’s potential.

A prominent cryptocurrency venture capital firm, Pantera Capital, may have invested an impressive $250 million into the TON ecosystem, marking what is believed to be the largest investment in this space to date.

On May 10, Toncoin (TON), the native token of The Open Network, experienced a significant surge of over 13% in value. This price increase was fueled by an announcement from Pantera Capital, a renowned California-based venture capital firm. In a blog post, Pantera revealed that they had made their biggest investment ever in TON.

Pantera Capital, a cryptocurrency investment firm, hasn’t revealed the exact amount of its fund but is believed to be more than $250 million. This substantial sum was reportedly used by Pantera to acquire Solana (SOL) at a bargain price from the estate of the bankrupt FTX exchange. I’m excited about Pantera Capital’s decision to invest in TON because, as they see it, this platform holds the potential to bring crypto to the masses due to its extensive usage within the Telegram network.

Using Telegram’s large user base and intuitive interface, as well as the excitement surrounding TON‘s growing ecosystem, we think TON has the capability to develop into one of the biggest cryptocurrency networks. (Paraphrased by Human)

Amid the assertions made by Pantera Capital, the value of TON surged past $6.8 and was just shy of hitting $7 – a price point not far from its all-time high of $7.25, based on information from CoinMarketCap.

At the Token2049 crypto conference in Dubai, Pavel Durov, TON‘s co-founder and Telegram’s CEO, announced new features for integrating TON with the messaging app. He also revealed intentions to allow users to sign in to their accounts utilizing cryptocurrency wallets.

As a researcher studying the regulatory landscape of cryptocurrencies and initial coin offerings (ICOs), I came across an intriguing development in October 2019. The Securities and Exchange Commission (SEC) took action against Telegram Group Inc., preventing them from launching their planned token, Gram. According to the SEC’s allegations, Telegram’s ICO had offered unregistered securities to investors, thereby violating securities laws.

As an analyst, I’ve observed that despite the ban, Telegram’s blockchain venture managed to thrive, thanks to the unwavering support of blockchain enthusiasts who believed in its mission. However, Telegram’s connection to the TON ecosystem grew stronger over time, with the introduction of Toncoin as a payment option in its revenue-sharing system for channel owners.

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2024-05-10 13:36