• Pantera Capital invests in TON, rising the potential of its international crypto community.
• The worth of TON token surged by 11.29% in 24 hours to achieve $5.287.
• Technical indicators point out that TON’s bullish momentum continues

Pantera Capital introduced an funding in TON, a Layer 1 community that originated from Telegram and is now powered by the open supply neighborhood. This funding underscores the corporate's perception in TON's potential to considerably develop entry to cryptocurrencies by leveraging Telegram's sturdy person base of over 900 million month-to-month energetic customers.

Pantera Capital believes that the mixing of TON and Telegram is a crucial step in making TON one of many largest crypto networks on this planet. As reported within the official weblog submit, his TON built-in with this platform advantages from Telegram's huge attain and seamless person expertise.

Telegram recorded 36.7 million downloads in January 2024 alone, surpassing its closest competitor Sign by an element of 10. Moreover, Telegram and TON's joint efforts are notably noteworthy as Telegram embodies lots of the Web3 beliefs that emphasize decentralization, safety, and person empowerment.

Paul Verradittakit, Managing Companion at Pantera, stated in a weblog submit:

“Telegram is the one main platform with no regulatory hurdles to include Web3 into an open blockchain community.”

Not like different main messaging platforms equivalent to Messenger and WeChat, which have confronted regulatory challenges of their makes an attempt to combine cryptocurrencies and digital funds, Telegram stands out. Offers a regulatory compliant surroundings conducive to cryptocurrency integration.

TON value motion

The TON token has elevated considerably in worth over the previous 24 hours, reaching an intraday excessive of $5.383. On the time of writing, the token is buying and selling at $5.287, marking an 11.29% improve from the day prior to this.

TON/USD 24 hour chart (Supply: coin statistics)

This improve in worth makes TON the ninth largest cryptocurrency by market capitalization, now at $18,458,514,828, a rise of 11.91%. This surge is essentially on account of Pantera Capital’s latest funding in Telegram’s TON blockchain undertaking, sparking renewed curiosity and optimism inside the cryptocurrency neighborhood.

Comparatively, TON outperformed Bitcoin, displaying an 8.32% improve in comparison with the main cryptocurrencies. Nevertheless, regardless of the bullish value motion, TON’s buying and selling quantity decreased by 9.03% previously 24 hours, with a complete worth of $226,761,318. This implies that whereas market sentiment is constructive, buying and selling exercise has decreased and traders and merchants are taking a extra cautious strategy.

TON's upward trajectory

In technical evaluation on the 4-hour chart, the Bull Bear Energy indicator exhibits a constructive pattern with rising inexperienced bars above the zero line. This sample means that bullish momentum is constructing and suggests an uptrend within the close to future.

TON/USD 4-hour chart (Supply: buying and selling view)

On the identical time, the relative power index (RSI) is positioned at 58.02 and goes vertically above the sign line. This transfer highlights the near-term bullish trajectory of the TON market.

Importantly, the RSI is above the impartial threshold however beneath the overbought zone, so it appears to be like like there’s a good probability of additional upside with out going into overbought circumstances any time quickly. This setup signifies a strong near-term bullish outlook for the market.