Pantera Capital, a prominent venture capital firm specializing in blockchain technology, has made its largest-ever investment in Telegram’s TON blockchain network. The exact amount of the investment remains undisclosed, but Pantera Capital founder Dan Morehead mentioned that it is significant. Pantera Capital had previously stated that it aimed to raise up to $250 million for purchasing discounted SOL from TON.
Telegram’s TON is a Layer 1 blockchain network that has garnered attention due to its connection with the popular messaging app. With over 900 million monthly active users on Telegram, Pantera Capital believes that TON is well-positioned for mainstream crypto adoption.
Pantera Capital outlined several factors that influenced their decision to invest in TON. They highlighted Telegram’s alignment with the core principles of cryptocurrency, emphasizing a decentralized and open network accessible to all. Additionally, TON’s scalability is seen as a positive attribute, as it can efficiently handle transactions for millions of users. The integration of Tether’s USDT stablecoin on TON streamlines financial transactions within the Telegram platform, further adding value.
The thriving mini-app ecosystem on Telegram was also a key factor for Pantera Capital. With over 360 million users engaging with Telegram’s mini-apps monthly, there is a significant user base ready to explore TON’s potential. Pantera Capital believes TON unlocks new avenues for Telegram users to generate income and participate in the digital economy.
Pantera Capital sees TON as a project in its early stages and expresses optimism for its future. They anticipate that the large Telegram user base will drive significant adoption of the TON ecosystem and its upcoming features.
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