Toncoin Soars 32% On The Back Of Pantera Capital’s Mega-Investment

Christian Encila

1 year ago

3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Following a large investment from venture capital behemoth Pantera Capital, Toncoin (TON), the native cryptocurrency of the Telegram Open Network, is seeing explosive rise. The news gave the crypto market favorable signals, which drove TON’s price above 30% in the weekly period and rekindled investor interest for the project.

Source: Coingecko

Pantera Bets Big On TON’s Mass Adoption Potential

Leader in blockchain investments Pantera Capital has taken a big risk on the Toncoin ecosystem. Industry rumors indicate the precise investment amount is unknown, but it could be more than the $250 million Pantera paid on discounted Solana (SOL) tokens previous year. This calculated risk highlights Pantera’s conviction about TON’s possible mainstream cryptocurrency status.

Source: Pantera Capital

“We have heavily invested in TON since it has the special power to expose crypto to the general public,” said Pantera Capital in a recent blog post. They highlight TON’s flawless connection with Telegram, a messaging tool with an amazing user count above 800 million.

Pantera envisions TON leveraging Telegram’s user-friendly interface and vast user pool to become a dominant force in the crypto landscape.

Total crypto market cap currently at $2.2 trillion. Chart: TradingView

TON Price Rallies On Positive Developments

Pantera’s optimistic view on TON follows a string of encouraging events for the project. Telegram co-founder Pavel Durov presented a road map for immediately including TON capabilities straight inside the Telegram app at the recent Token2049 conference in Dubai.

This includes plans to allow users to log in to their Telegram accounts using crypto wallets, further blurring the lines between traditional messaging and the world of blockchain.

TON seven-day price action. Source: Coingecko

The announcement of Pantera’s investment together with Telegram’s dedication to TON integration set up a purchasing frenzy in the TON market. Rising almost to an all-time high of $7.25, the token price jumped near the $7 level. This price raise demonstrates growing investor hope for TON’s future.

Overcoming Regulatory Hurdles: A Look Back

TON’s path hasn’t been without difficulties notwithstanding the present tide of hope. The US Securities and Exchange Commission (SEC) put a restraining order against Telegram in 2019, therefore preventing the intended Gram token release.

The SEC alleged that the Gram ICO violated securities laws. However, the Telegram team persevered, and the TON ecosystem continued to evolve with TON coin emerging as its central currency.

A New Chapter For Toncoin?

The investment made by Pantera Capital and Telegram’s ongoing dedication to TON integration signal a major turning point for the initiative. TON is positioned to close the distance between mainstream consumers and the world of cryptocurrencies with a strong messaging platform as its basis and support of a well-known investment firm.

Featured image from GoodFreePhotos, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.