Pantera Capital Company continues to invest in cryptocurrency, this time they plan to launch a new fund to buy large amounts of Toncoin.
Venture capital company Pantera Capital continue to choose Toncoin (TON) of The Open Network as its strategic investment target through a second dedicated fund, demonstrating confidence in layer 1 blockchain related Telegram.
According to research information, the fund has a name Pantera TON Investment Opportunity and was established with the purpose of buying more TON tokens.
In an email sent to potential investors, Pantera invited participation in the funding round and stated that: “We invite you to participate in the next round of this investment opportunity.” Previously, Pantera announced a significant investment in TON in May, but did not disclose the amount.
According to Wu Blockchain, the company Pantera had previously planned buy cheap SOL from FTX for $250 million. This shows the strategy of expanding investments in the cryptocurrency market.
Pantera Capital founder Dan Morehead said TON is the largest investment Pantera has ever made, but did not disclose the specific amount, nor the discounted price for purchasing TON tokens. Pantera had earlier said it would raise up to $250 million to purchase discounted SOL from…
— Wu Blockchain (@WuBlockchain) May 10, 2024
The company emphasized the unique features and the potential for widespread adoption of TON being promoted Huge user base in the Telegram network and scalability, allowing for low transaction fees.
Representative of the investment company Pantera Capital shared that:
We believe that TON has the potential to open up the cryptocurrency market to the masses as it is widely used in the Telegram network… The scalability of the TON network allows for a flat fee of ~$0 .10 for transactions between users – 66% cheaper than other cryptocurrency payment platforms.
Recent reports indicate that the platform has invited potential investors to participate in the funding round, with The minimum contribution is $250,000. At the time of writing, TON is trading at $7.27, up more than 14.2% over the past month.
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