Pantera Capital boosts TON with a remarkable 14% surge

Pantera Capital, a cryptocurrency venture capital firm, has announced its backing of the TON ecosystem with what it claims to be the largest investment ever. The firm did not disclose the exact amount of funding, but it is speculated to be well over $250 million. Pantera Capital’s decision to invest in TON is based on the platform’s potential to introduce cryptocurrency to a wider audience through its extensive use within the Telegram network. Following this announcement, the price of TON’s native token, Toncoin, surged by over 13%. This comes after Pavel Durov, co-founder of Telegram, unveiled plans to integrate TON within the messenger and allow users to log into their accounts using crypto wallets. Despite facing a restraining order from the SEC in 2019, Telegram’s blockchain venture has continued to thrive and deepen its ties to the TON ecosystem.