Pantera Capital, a major player in cryptocurrency venture capital, is back in the news with a significant strategic move. The company is raising funds to invest further in the TON token, illustrating its confidence in its long-term potential. This article explores the reasons for this craze and the token’s future prospects.
Pantera Capital doubles down on the TON token
Pantera Capital, already known for its bold investments, is strengthening its position in the TON token. Earlier this year, Pantera made its largest ever investment in this token. Now, the firm is raising funds for a new program called “Pantera TON Investment Opportunity”. This program aims to purchase more TON tokens, demonstrating Pantera’s belief in the growth potential of this digital asset.
The call for investors, made via an email, stipulates that the minimum participation is set at $250,000. Although Pantera did not disclose the details of this initial transaction, the email indicates that the investment was made at a price significantly below the market price last March.
Pantera’s history and ambitions with TON
Since its inception in 2003, Pantera Capital has built a solid reputation in the cryptocurrency ecosystem. Its interest in the TON blockchain, formerly known as Telegram Open Network, is significant. Initially launched by Telegram, the TON project faced significant regulatory challenges in the US, prompting Telegram to withdraw from the project in 2020. However, the open-source community continued to develop the network independently.
Since its inception in 2003, Pantera Capital has built a solid reputation in the cryptocurrency ecosystem. Its interest in the TON blockchain, formerly known as Telegram Open Network, is significant. Initially launched by Telegram, the TON project faced significant regulatory challenges in the US, prompting Telegram to withdraw from the project in 2020. However, the open-source community continued to develop the network independently.
Despite its official withdrawal, Telegram continues to support blockchain TON. This year, the platform introduced an advertising revenue-sharing system for channel owners, exclusively in TON token. This revenue-sharing mechanism, with a 50/50 split between the platform and channel operators, has boosted token adoption.
Growth and adoption of blockchain TON
The adoption of the TON blockchain has recently seen a notable acceleration. In April, Tether’s stablecoin USDT was launched on the TON network. According to Pantera, USDT adoption on this network has been faster than on any other blockchain, with over 400 million USDT in circulation in less than two months.
Growth of mini-game applications on TON
Mini gaming apps on the blockchain TON have also seen spectacular growth. Games such as Notcoin and Hamster Kombat have attracted millions of players in record time. Pantera compared these games to Axie Infinity, noting that Notcoin reached 35 million players and around 10 million daily active users in five months, while Hamster Kombat attracted 100 million players with between 40 and 45 million daily active users.
Pantera’s future prospects and positioning
With the rapid increase in the number of users and transactions, the TON token is now the tenth largest cryptocurrency by market capitalization, with a value of over $17.5 billion. A TON is currently trading at around $7.
Pantera, which manages almost $5 billion in assets, has no intention of stopping there. The firm is also raising a new $1 billion crypto fund, “Fund V”, designed to invest in venture capital shares, early-stage tokens, special opportunities and liquid tokens.
Conclusion
Pantera Capital’s strategic move to strengthen its investment in the TON token demonstrates its confidence in the potential of this blockchain project. With continued support from Telegram and growing adoption, the TON token looks well positioned to establish itself as a major player in the cryptocurrency ecosystem.
