Pantera Capital Invests in Telegram's TON Blockchain to Boost Crypto Adoption

May 3, 2024, 02:02 AM

Pantera Capital, a prominent crypto venture firm managing over $5 billion in assets, has invested in The Open Network (TON), Telegram's Layer 1 blockchain. This strategic move aims to leverage Telegram's extensive user base of 900 million monthly active users to spearhead widespread crypto adoption. TON has shown significant growth over the past year, with daily active users increasing by 1,900%, monthly active wallets by 2,300%, and daily transactions by 2,200%. Pantera Capital's investment is seen as a major endorsement of TON's potential to integrate Web3 into a widely used platform.