Pantera Capital, a heavyweight in the cryptocurrency venture capital arena, has recently made a strategic investment into The Open Network (TON), a blockchain project closely tied to the popular messaging app Telegram. Pantera Capital manages an impressive portfolio with over $5 billion in assets and has a history of making significant moves in the crypto space.
Recognizing the potential of TON to bring cryptocurrency into the mainstream, Pantera Capital has cited the network’s deep integration with Telegram as a key factor. TON, originally conceptualized by the creators of Telegram and now maintained by the community, is a Layer 1 blockchain network with a growing footprint in the crypto ecosystem.
The venture firm’s decision follows TON’s recent surge in visibility, particularly after Telegram’s announcement to monetize channel views through ads paid in Toncoin (TON) tokens. Telegram’s implementation of this revenue-sharing model has opened a new avenue for users to engage with the platform’s native cryptocurrency.
With Telegram boasting over 900 million active monthly users and channel views exceeding a trillion each month, Pantera Capital believes TON is poised to drive widespread crypto adoption. The firm is enthusiastic about the future growth of the TON ecosystem and the integration of new features by Telegram’s extensive user base.
Adding to TON’s appeal, Telegram has enabled transactions using the Tether (USDT) stablecoin on the TON blockchain. This update allows users to execute USDT transactions within the network, leveraging TON’s scalability and cost-efficiency, with transaction fees approximately 66% lower than other platforms.
TON’s market position has strengthened recently, ranking as the 10th largest cryptocurrency with a market cap of $16.8 billion. At the time of publication, the trading price for one TON stood at around $4.80.
Simultaneously, Pantera Capital is actively expanding its investment portfolio. Not only has it been purchasing Solana (SOL) tokens at a discount from the FTX bankruptcy auctions, but it is also raising a new $1.25 billion fund. This Fund V aims to support a blend of startup equity, early-stage tokens, liquid tokens, and other assets. The fund has set a minimum investment threshold and is looking for substantial commitments from limited partners.
Established in 2003, Pantera Capital is a leader in the crypto venture capital industry, with an extensive track record of investing in over 180 crypto startups. Its proactive investment strategy and significant fund management underscore its status as a major player in the cryptocurrency investment landscape.
Disclaimer: This article is for informational purposes only and should not be construed as financial or investment advice.
