TLDR:
- Pantera Capital invested a significant amount in TON ecosystem, claiming it as their largest investment ever.
- TON’s native token, Toncoin (TON), surged by over 13% following the announcement.
Crypto VC firm Pantera Capital made headlines by backing the TON ecosystem with a substantial investment, claiming it to be their largest ever. TON’s native token, Toncoin (TON), saw a significant surge of over 13% in value on May 10th following Pantera Capital’s statement. The venture capital giant did not disclose the exact amount of the investment but hinted that it could be well over $250 million, based on their previous investments.
Pantera Capital expressed confidence in TON’s potential to introduce cryptocurrency to a wider audience, citing the platform’s integration with the popular messaging app Telegram. The price of TON also experienced a sharp increase, reaching near its previous all-time high. This backing from Pantera Capital comes at a time when Telegram’s co-founder, Pavel Durov, is unveiling new features to integrate TON within the messenger, further solidifying the project’s future despite its earlier legal challenges.
Overall, Pantera Capital’s substantial investment in the TON ecosystem has boosted confidence in the project’s growth and adoption potential, leading to a significant increase in TON’s value and market presence.
