Pantera Capital, a crypto investment management firm, is ramping up its bets in Layer 1 blockchain protocol Toncoin (TON). According to a report from The Block, the firm, which made its largest capital injection in the coin earlier this year is now raising funds for a new round of investments in the TON, reinforcing its previous bet as detailed in an email.
Pantera Is Highly Bullish On TON
The firm termed this new fundraising “Pantera Investment Opportunity” and has called out to interested investors to secure a spot in the fund by filling out a form before June 21. The form specifies that the minimum investment per investor is $250,000.
This decision demonstrates the firm’s confidence in the project and underscores its dedication to expanding investment in this specific cryptocurrency.
Ryan Barney, a Partner at Pantera, expressed in a statement that though the TON network is still in its early stages, its ecosystem and new features have garnered widespread adoption thanks to the Telegram user base.
This is demonstrated by the fact that the blockchain recently experienced significant growth with a boost of over $600 million in total value locked (TVL). This was driven by Telegram’s high-traffic engagement.
Interestingly, Pantera has close to $5 billion worth of assets in its coffers and is also a key validator for the Open Network (TON).
It is currently in the process of raising a new $1 billion Fund V focused on investing in venture equity, early-stage tokens, special opportunities, and liquid tokens.
Leveraging on Telegram’s User Base
Pantera’s TON blockchain continues to leverage Telegram’s extensive user base to create a decentralized network capable of supporting a diverse range of applications.
Last month, Floki Developers leveraged the messaging app. It launched a Trading Bot to increase the demand for FLOKI and generate upward pressure on the price.
In addition, Several gaming mini-apps projects like Notcoin and Hamster Kombat on the messaging app have seen remarkable growth in recent times.
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