Pantera Capital, a major venture capital firm, is raising funds for its second investment in The Open Network’s Toncoin (TON) token. The firm previously invested in TON in March, however, it did not disclose the investment total. The “Pantera TON Investment Opportunity,” aims to raise capital to buy more TON tokens, according to an email Pantera sent to potential investors this week. “We are inviting you to participate in the upcoming round of this investment opportunity,” the email read.
Those interested in contributing to the fund have until the end of the Friday business day to indicate their interest in the opportunity through a form. The minimum contribution to the fund is $250,000.
“We believe the TON network is still in its early stages, and we are excited to witness the adoption of its ecosystem and new features by the Telegram user base,” Ryan Barney, a Pantera partner, said last month. Pantera has been bullish on the Telegram Network’s TON token for time, and has plenty of potential. Users on the TON blockchain have continued to grow, and the USDT stablecoin was also launched on the network.
TON hit an all-time high of $8.01 on June 14. The token has consistently hit new peaks throughout this year and may continue to do so for the foreseeable future. Artemis data shows that TON’s daily active users has outshined Ethereum’s for most of June 2024. The project also has 900 million users on its Telegram platform.