Pantera Capital Increases Investment in Toncoin, What's the Future?

Bittime - Pantera Capital, a well-known venture capital firm in the crypto space, has just increased its investment in Toncoin (TON). This step was realized through the formation of the "Pantera TON Investment Opportunity." 

This program is a special container to accommodate new investments that will be allocated specifically to Toncoin. Through an email leaked to The Block media , Pantera invited potential investors to join in this latest funding round.

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Those interested who want to participate must prepare a minimum of $250,000 (around Rp. 4.1 billion) and express their interest before June 21. Unfortunately, when contacted by The Block, Pantera refused to provide further comment.

Also read: Toncoin (TON) Becomes a Payment Tool on Telegram

Pantera's Optimism on Toncoin (TON)

This move signals Pantera Capital's strong belief in Toncoin's potential. Previously, in March, they had made their largest investment into Toncoin at a significant discount. Although the details of the investment are kept secret, the official announcement last May is clear evidence of their optimism.

"In our opinion, the TON network is still in the early stages of development. We are very enthusiastic to see how Telegram's user base will embrace the ecosystem and its new features," said Ryan Barney, a partner at Pantera.

Toncoin's Winding Journey

Starting from the Telegram Open Network project initiated by Telegram, Toncoin encountered legal problems in 2019. The United States Securities and Exchange Commission (SEC) at that time assessed that the sale of "Gram" tokens by Telegram violated federal securities regulations. 

As a result, in 2020, Telegram and its subsidiary, TON Issuer Inc., agreed to pay a fine of $18.5 million and return approximately $1.2 billion in investment funds to investors.

However, thanks to the support of the open-source community, development of the TON blockchain continues.

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Soaring Popularity and Users of TON

Recently, the usage and number of users of the TON blockchain has increased rapidly. The presence of the USDT stablecoin from Tether in April was an attraction in itself. 

Also read: The growth of Toncoin (TON) and Ethena (ENA) continues

In just two months, there have been more than 400 million USDT tokens circulating on the TON network, surpassing the achievements of other blockchains.

Not only that, Pantera's email stated that the popularity of Telegram-based mini-games had also driven TON's growth. Just mention Notcoin and Hamster Kombat, each of which has millions of players and daily active users.

What is the Future of Toncoin (TON)?

Source: Bittime

With this surge in popularity, Toncoin is now ranked in the top 8 cryptocurrencies in the world. This crypto asset recorded a market capitalization of more than $18.6 billion. 

CoinMarketCap data at the time this article was written showed the TON price was around $7.63 (around Rp. 125 thousand), up 5.75% in the last 24 hours but down 3% in the last week.

Apart from focusing on Toncoin, Pantera Capital, which manages assets worth $5 billion, is also launching Fund V worth $1 billion. These funds will be allocated for investment in various crypto sectors, ranging from venture capital, early stage tokens, attractive opportunities, to liquid tokens.

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Pantera Capital's move to increase its investment in Toncoin is a positive signal for the future of this blockchain. With the support of a strong developer community and a massive Telegram user base, Toncoin has the opportunity to continue to grow and become an important player in the crypto industry.

How to Buy Toncoin (TON) on Bittime

You can buy and sell Toncoin (TON) in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

Toncoin (TON) is available on Bittime with the market pair TON/IDR. To be able to buy TON IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn the complete guide on how to buy Toncoin (TON) on Bittime. 

Monitor the price chart movements of Toncoin (TON), Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Telegram Distributes Toncoin (TON) to Channel Owners

Crypto Heats Up! Polkadot, BlockDAG, and Toncoin Fight for Market Domination

Toncoin (TON) Soars 97% Through Collaboration with Telegram, Competing with CORE (CORE) and KangaMoon (KANG)

Toncoin (TON) & Notcoin (NOT) Prices: A Sign of a 100% Rise in June?

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.