Pantera Capital is raising fund for second TON investment. This year TON’s TVL has increased from $13.51 million to $629 million

On June 19, 2024, Pantera Capital is reportedly raising capital for its second investment in the TON token.

Pantera Capital is an institutional asset manager focuses its investment on blockchain technology.

This new fund, called the “Pantera TON Investment Opportunity,” aims to purchase additional TON tokens.

Pantera Capital made its largest-ever investment in the TON token earlier in March 2024.

The investment was made in TON tokens “at a significant discount to the spot price” in March. They officially announced the investment in May.

The minimum investment per investor in this new fund is $250,000.

Pantera seems very optimistic about the token’s potential. They believe the TON network is still in its early stages and are eager to see the adoption of the ecosystem and new features by Telegram users.

The TON blockchain, formerly known as Telegram Open Network, was initially launched by Telegram.

However, Telegram withdrew from the project after the US Securities and Exchange Commission declared that Telegram’s sale of tokens called “Grams” violated federal securities laws.

The open-source community then continued to develop the TON blockchain independently, but Telegram continued to support the network.

Earlier this year, Telegram introduced an advertising revenue sharing system for channel owners that will pay entirely in TON tokens and split revenue 50/50 between the platform and channel operators.

The number of users and transactions on the TON blockchain has increased rapidly recently. The USDT stablecoin was also launched on the TON network in April.

USDT adoption on this network has been faster than any previous blockchain, with over 400 million USDT in circulation in just under two months.

This year TON’s TVL has increased from $13.51 million on January 1 to $629 million on June 22.