Bittime - Pantera Capital, a renowned crypto venture capital firm with a total investment of over $5 billion, has just announced its investment in The Open Network (TON). Their reason? TON connects with Telegram, an instant messaging application with super many users!
TON has the potential to be accessed by 900 million Telegram users
According to Ryan Barney, a senior official at Pantera, TON has the potential to be accessed by 900 million Telegram users. This could encourage widespread crypto adoption.
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TON, a layer 1 blockchain originally created by Telegram, has recently attracted attention due to its revenue sharing model and use of the Toncoin (TON) token for transactions on the platform. Pantera believes TON is easy to access and has the potential to introduce crypto to a wide audience thanks to its relationship with Telegram.
Also read: Telegram Distributes Toncoin (TON) to Channel Owners
Pantera sees TON's integration with Telegram for easy peer-to-peer payments as a plus. The investment firm, which manages $5.2 billion in assets, just announced a new $1 billion fund in April.
This shows their confidence in the growth of the crypto market, including through their investment in TON.
Pantera's confidence in TON is strengthened by TON's recent integration with Arkham Intelligence for blockchain analysis and support from stablecoin issuer Tether.
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This makes TON even more useful in the Telegram ecosystem. Additionally, TON developers announced a significant reduction in transaction fees, making TON even more attractive to users and investors.
Also read: Crypto is heating up! Polkadot, BlockDAG, and Toncoin Fight for Market Domination
Even though it is still in the early development stages, Pantera hopes that TON will continue to be integrated with exchanges and other financial services. In this way, TON will be easier to access and have more complete functions.
Pantera Capital's investment in TON has a strategic focus on leveraging Telegram's large user base for user-to-user payments. In other words, they want to take advantage of the advantages that Telegram has to achieve their goals.
About Toncoin (TON)
Toncoin is a blockchain network that was originally created by the instant messaging application Telegram in 2018. At that time, Telegram raised $1.7 billion in funding to build their own blockchain with the aim of becoming a competitor to Ethereum. The name "Toncoin" itself comes from the abbreviation The Open Network (TON).
However, before the official launch, Telegram actually stopped the Toncoin project. This is due to a lawsuit from the United States Securities and Exchange Commission (SEC) which considers $TON to be a financial product (security).
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After being abandoned by Telegram, Toncoin development was continued by other developers. In 2021, Newton (Toncoin's new name) acquired the ton.org domain and Toncoin program code. Finally that same year, Toncoin launched their own blockchain and $TON token.
Even though Toncoin is currently running separately from Telegram, Telegram's founder and CEO, Pavel Durov, gave his support to Toncoin via a Telegram post in 2021. He emphasized that Telegram no longer has any financial or technical ties to $TON.
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.
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Will Toncoin (TON) Become a Giant Layer 1 Blockchain? Check out the analysis here
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.
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