Toncoin resumed growth behind investments from venture capital firm Pantera Capital.
Launching several initiatives at once, Toncoin (TON) rose in price by 7% over the past 24 hours to $5.15, recovering after several weeks of decline.
The renewed growth comes shortly after Pantera Capital announced an investment in The Open Network blockchain. However, the investment amount is unspecified.
“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.”
Pantera Capital
Pantera Capital notes that the platform is still in the early stages of development. However, the VC firm is looking to further ecosystem development and assist with adopting new functionality.
Pantera believes that integration with exchanges and other financial services is gradually taking place, facilitating access to the ecosystem.
In addition, TON developers announced the platform’s integration with the on-chain analytics service Arkham Intelligence.
“Telegram users will be able to access Arkham data seamlessly through a Telegram Mini App. Arkham will also include TON support on their platform!”
TON team
Earlier in April, USDT stablecoin issuer Tether added support for The Open Network blockchain. The corresponding functionality has appeared in the Telegram Wallet. In the same month, TON developers announced a 2.5-fold reduction in commissions.