Cryptocurrency Toncoin (TON) secures $20 million investment from Pantera Capital

In a significant move, cryptocurrency Toncoin (TON), linked to social media platform Telegram The Open Network, has secured a $20 million investment from Pantera Capital, a crypto hedge fund and venture capital firm.

The multi-million dollar investment in the TON blockchain was revealed in documents that were filed with the US Securities and Exchange Commission (SEC) on December 2, second information published by DL News.

According to the publication, the documents revealed that Pantera Capital requested funding from at least 29 investors in two separate funds. The signing took place on November 27.

It is worth remembering that the company already realized other highs investments on the TON blockchain. TON, initially launched by the team behind Telegram and now managed by a community of open-source developers, has seen a rise in its profile and adoption thanks to its association with the messaging giant.

In May, Pantera Capital, an influential hedge fund led by Dan Morehead, highlighted Toncoin (TON) as its largest investment at the time, with the potential to significantly expand the reach of cryptocurrency in the world. According to Morehead, the fundamental distinction of Toncoin in relation to other blockchain projects is its origin in an already established platform — Telegram.

At the time of publication, Toncoin (TON) is trading at $7,11, up 9.5% over the last 24 hours. During this period, Toncoin (TON) has traded at $843.247.692, representing a 13,50% increase from a day ago and signaling a recent surge in market activity.

In its weekly development, TON cryptocurrency has seen a 14% increase in its price over the past seven days. Toncoin reached its all-time high during a rally in June. The highest price paid for Toncoin (TON) was $8,25, recorded on June 15, 2024 (6 months). Comparatively, the current price is 13,49% lower than the all-time high.