Why has Pantera made a multi-million greenback funding in TON?

Pantera Capital, an American hedge fund and enterprise capital agency, has been investing within the Toncoin (TON) cryptocurrency, native to The Open Community (also referred to as TON), for months.

One of many essential causes for this funding It’s the nice integration that TON has within the Telegram messaging softwarementioned Cosmo Jiang, portfolio supervisor at Pantera Capital.

This fashionable app, with over 900 million month-to-month energetic customers, has included a cryptocurrency pockets instantly into its platform.

“The combination has made accessing the world of cryptocurrencies as straightforward as opening a chat, making TON probably the most accessible networks for digital belongings available on the market,” mentioned the corporate’s government.

Pantera believes that TON has been very profitable and has gained extra traction because of Telegram’s mini-apps, most of that are video games.

Certainly one of these video games is Notcoin, which attracted greater than 35 million customers. Created in early 2024, this sport permits customers to earn the NOT token by merely tapping their screens.

By way of consumer expertise, Jiang says TON is simple to make use of as they’ll open the app and discover the pockets subsequent to the chat.

These developments motivated Pantera Capital to put money into the TON cryptocurrency. Final Could, Pantera introduced its funding within the growth of TON and in June it opened a fundraising spherical with a minimal funding of $250,000, as reported by CriptoNoticias.

Telegram desires to increase into the cryptocurrency sector

Though there is no such thing as a official hyperlink between TON and Telegram, the reality is that the cryptocurrency community and the messaging app share a standard previous.

Final June, Pavel Durov, CEO and founding father of Telegram, mentioned that 2024 “will go down in historical past because the 12 months when lots of of tens of millions of individuals turned accustomed to blockchain expertise.” Durov added:

“We’re proud that Telegram is on the epicenter of this social transformation.”

Pavel Durov, founding father of Telegram

As a part of this enlargement, Durov introduced that they may introduce a mini app retailer and a browser inside Telegram with help for Web3 pages.

The rise of TON in numbers

The TON community has grown considerably over the previous 12 months. Based on information from the Artemis platform, Day by day energetic addresses on TON elevated by 3,000%going from 9,800 to 314,000, as seen within the following graph.

The best variety of energetic customers in sooner or later since its launch was 506,000 final June.

This has allowed the toncoin cryptocurrency additionally rose greater than 200% in 2024as seen within the following TradingView chart.

It’s mirrored there TON’s improve within the final 12 months, going from $1 to $8, its all-time excessive.

Elementary evaluation is important

Cosmo Jiang additionally emphasizes the rising significance of elementary evaluation on this planet of cryptocurrencies. Elementary evaluation is that which relies on the basics of an funding, as defined in Criptopedia (instructional part of CriptoNoticias).

As with different investments, the worth of a cryptocurrency relies upon not solely on hypothesis, but in addition elementary components comparable to revenue, bills, expertise and enterprise mannequin.

A number of years in the past, cryptocurrencies had been very new and there wasn’t sufficient information or instruments to investigate them in depth, main many traders to rely extra on traits and hypothesis, Jiang notes.

“I feel all that’s altering, and the explanations for which are, to begin with, that actual protocols with actual enterprise fashions at the moment are being constructed,” the entrepreneur mentioned.

In abstract, the Pantera Capital supervisor maintains that There at the moment are extra mature tasks with stable enterprise fashions and monetary information accessible, permitting for extra correct elementary evaluation.