Ton coin pumps 13%, following Pantera Capital’s investment news
Pantera Capital has shown significant investment inclination in The Open Network blockchain ($TON). Crypto Investors say this is only the initial phase of growth for the TON network.
The Open Network, formerly known as Telegram Open Network (TON), is a decentralized computer network. It was created by Dr Nikolai Durov and the messaging app Telegram. Now, developers from around the world help build it independently. Because of Telegram’s support for the Ton blockchain network, Ton blockchain adoption surging rapidly among Telegram users.
On 2 May 2024, Through a recent statement, Pantera Capital showed its excitement in investing in TON.
Pantera Capital noted that TON’s Layer 1 blockchain network was started by Telegram and is now under the control of many people, totally isolated from Telegram’s control.
According to this VC firm, Ton could make cryptocurrency more popular across the world because it’s used a lot on the Telegram messaging platform.
Currently, Telegram has 900 million active users, which includes crypto and non-crypto users. The crypto transaction features on the Telegram platform successfully attract non-crypto Telegram users toward the crypto & blockchain world.
Pantera Capital’s investment inclination toward the Ton blockchain acted as a big catalyst to pump the trade price of the Ton coin. The current trade price of Ton coin is $5.36 & this trade price is 13% higher over the last 24 hours.
Ton network supports Tether
In mid-April of this year, the Ton blockchain network announced support for Tether (USDT) stablecoin.
To push the adoption of USDT among Telegram crypto users, the Ton network offered fee-free USDT withdrawal support.
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