Toncoin, one of the leading crypto tokens, surged 13% after Pantera Capital, a notable financial firm, announced its plan to invest in Ton. The token is particularly known for its extensive integration with Telegram, a popular messenger app, which has been using Ton to bolster its advertising vertical.
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Pantera Capital Invests in Toncoin
Toncoin, a promising cryptocurrency token, has received an investment from Pantera Capital, a leading venture capital firm focused on digital assets. In the latest announcement, Pantera Capital shared how they will be investing in Toncoin with the intent of introducing crypto to the masses. The firm will be leveraging the token’s ability to seamlessly embed with Telegram, a messenger app hosting 900 million monthly users.
The platform shared how Toncoin has the potential to become one of the largest crypto tokens. The firm reiterated that Ton’s open network capabilities combined with easy scalability compelled Pantera to invest in the token.
“We believe TON has the capacity to introduce crypto to the masses. It is because it’s used extensively within the Telegram network. By leveraging Telegram’s vast user base and seamless UX with the vibrancy of TON’s emerging ecosystem. We believe TON has the potential to become one of the largest crypto networks.
Toncoin Forecast for May 2024
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After Pantera Capital announced its plan for TON, Toncoin reacted sharply to the news, surging nearly 13% in the last 24 hours. The token is currently trading at $5, with prospects of it breaching a new price high very soon.
The technical parameters may support Toncoin’s rally considering a shift in its potential acknowledged by leading institutions like Pantera.
According to CoinCodex, Toncoin may spike by 200% to breach the $10 mark in May. The platform predicts Ton will trade at $17 by the end of May 2024.
“The price of Toncoin is predicted to rise by 229.54% and reach $17.20 by June 1, 2024. Per our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 43 (fear). Toncoin recorded 13/30 (43%) green days with 11.04% price volatility over the last 30 days.”