Pantera Capital announced an investment in The Open Network (TON). According to the venture firm, the altcoin project has the capacity to bring crypto to the masses. The positive sentiment in the market and the impact of this development caused TON to jump 9 places.

Crypto venture capital companyi liked TON and invested!

“We believe TON has the capacity to introduce crypto to the masses as it is widely used on the Telegram network,” Pantera Capital said in a statement on Thursday. Pantera’s investment in TON comes as the Layer 1 Blockchain has been in the spotlight recently. In February, Telegram announced its decision to share advertising revenue with channel owners. It also announced a plan to pay rewards using the Toncoin (TON) token. Telegram recently implemented this plan. Thus, it allowed users to buy in-platform ads with TON.

According to Pantera Capital, TON could potentially drive mass adoption of the crypto, given that Telegram reaches more than 900 million monthly active users and more than 1 trillion views across channels each month. “We believe the TON network is still in its early stages. We are also excited to witness the adoption of its ecosystem and new features by the Telegram user base.”

Altcoin price reacts positively to investment news

Telegram recently also enabled Tether (USDT) stablecoin payments through the TON Blockchain. This means that it is now possible for Telegram users to make USDT payments to each other through the TON network. Pantera Capital said, “The scalability of the TON network allows for a flat fee of ~$0.10 for transactions between two users. This is 66% cheaper than other crypto payment platforms. In addition, built-in ramps and on-ramps are being rolled out, including for bank transfers and exchanges, to further facilitate access and usage.”

Meanwhile, the altcoin price reacted positively to the investment news. TON reached a market capitalization of $17.135 billion, making it the 9th largest cryptocurrency. At the time of writing, the altcoin was trading at $4.93, up 4.75% on a daily basis.

TON price chart. Source: CoinMarketCap

Pantera Capital continues investments at full speed

Pantera Capital is one of the largest and most active crypto venture capital firms in the world. According to the latest data, the firm has invested in more than 180 crypto startups to date. Cryptocoin.comPantera Capital also recently acquired discounted Solana (SOL) tokens auctioned by executives who oversaw the bankruptcy of the former FTX cryptocurrency exchange.

Pantera is also creating a new $1.25 billion fund. This fund will invest in seed capital, early-stage tokens, liquid tokens and other assets. The new Fund V has a minimum investment of $1 million for qualified investors. In addition, the company plans to have the first closing on April 1, 2025. According to the document, limited partners will need to contribute at least $25 million to the fund.