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Toncoin has seen a resurgence in growth thanks to investments from venture capital firm Pantera Capital. The cryptocurrency, TON, has experienced a 7% price increase in the last 24 hours, reaching $5.15 after a period of decline.
Pantera Capital recently announced an investment in The Open Network blockchain, although the specific amount was not disclosed. The firm is optimistic about the potential of the TON network and is eager to see its ecosystem and new features adopted by Telegram users.
Pantera Capital recognizes that the platform is still in its early stages of development but is committed to supporting ecosystem growth and the integration of new functionalities. They believe that the integration with exchanges and financial services will make it easier for users to access the ecosystem.
In addition to Pantera Capital’s investment, TON Foundation has allocated 11 million Toncoin to reward USDT users. TON developers have also announced the integration of the platform with the on-chain analytics service Arkham Intelligence.
Arkham Intelligence has partnered with TON, allowing 900 million Telegram users to access Arkham data seamlessly through a Telegram Mini App. This integration will also include TON support on the Arkham platform.
Earlier in April, Tether, the issuer of USDT stablecoin, added support for The Open Network blockchain, with corresponding functionality now available in the Telegram Wallet. TON developers have also announced a 2.5-fold reduction in commissions in the same month.
The total value locked in TON has tripled in a month, surpassing the $148 million mark, indicating the growing interest and investment in the cryptocurrency.
