• Pantera Capital introduced that it has invested an undisclosed quantity in TON.
• The enterprise capital agency says the mixing of TON and messaging platform Telegram might be a game-changer in cryptocurrency adoption.

Enterprise capital agency Pantera Capital has invested within the Open Community (TON) blockchain, a layer 1 community powered by Toncoin (TON).

TON was initially launched by messaging app big Telegram and is now powered by an open supply neighborhood.

In particulars shared in Thursday's announcement, Pantera Capital mentioned its funding is aimed toward strengthening TON's future progress because it seeks to carry extra folks into cryptocurrencies by Telegram. Ta.

Telegram integration will increase TON potential

The VC platform's confidence in TON's future potential and skill to drive cryptocurrency adoption rests on widespread use of cryptocurrencies on the Telegram community.

“By leveraging Telegram’s huge person base and seamless UX with the vitality of TON’s rising ecosystem, we consider TON has the potential to turn out to be one of many largest crypto networks,” Pantera mentioned. he mentioned in a weblog publish.

Pantera didn’t disclose the funding quantity, however mentioned Telegram, which has greater than 900 million month-to-month lively customers, is the one main messaging app able to combine Web3.

For example, the corporate cited Telegram's month-to-month downloads of over 36.7 million in January, 10 instances greater than rival Sign.

“We consider Telegram is well-positioned to carry cryptocurrencies to the world with our shared Web3 ethos and large-scale distribution,” the corporate mentioned.

This outlook is strengthened by TON's structure, which options a number of parts: TON Blockchain, TON Storage, TON DNS, and TON Providers. The TON blockchain serves because the spine of this ecosystem, offering tens of millions of customers with a community with excessive transaction throughput, scalability, and utility.

Toncoin (TON) soars

Pantera is investing in TON at a time when the crypto platform is receiving vital curiosity from throughout the ecosystem.

Telegram has been a driving pressure behind a few of TON's largest developments, particularly undertaking endorsements. The choice to incorporate Toncoin (TON) tokens within the income sharing program for channel house owners. Telegram additionally affords customers tokenized emojis and stickers through the TON blockchain.

In the meantime, Tether's native USDT integration and launch into TON is one other large step for Telegram customers.

TON worth soared following the Pantera Capital information, with the altcoin rising greater than 12% to a excessive of $5.39 early Friday.