Pantera Capital Invests in The Open Network
Cryptocurrency venture capital firm Pantera Capital has invested in The Open Network ecosystem. The amount of the investment has not been disclosed yet.
In its official statement, the company said that TON is able to introduce cryptocurrency to the masses due to Telegram's vast user base. The decision came after the network has recently attracted significant attention through various integrations and developments.
BREAKING: Pantera Capital invests in The Open Network, looking to capitalize on Telegram users https://t.co/Z1qTBpjR7v
— The Block (@TheBlock__) May 2, 2024
"We believe the TON network is still in its early stages, and we are excited to witness the adoption of its ecosystem and new features by the Telegram user base," the company emphasized.
Pantera Capital also praised the scalability of the network and low transactions, which according to the company's representatives is 66% cheaper than other cryptocurrency payment platforms.
Amid this news, the TON coin rose by 6%. At the time of writing, TON is trading at $4.93 and continues to rise.
