The Open Network received a new boost with the launch of a $20 million fund, provided by the cryptocurrency exchange Bitget in partnership with the Singapore-based investment firm Foresight Ventures.
The goal of the TON Ecosystem Fund is to support early projects on the TON platform and provide liquidity on the Bitget platform.
The fund's launch coincides with the expected growth in 2024, driven by the activity of Telegram's 900 million monthly users. Over the last two months, the total amount of funds locked in the TON ecosystem has multiplied fivefold to reach $600 million.
The fund focuses on new projects and liquidity on the Bitget platform. This initiative will attract new projects and assets such as TON-based Tether (USDt), DeDust.io, and Ston.fi.
Grace Chen, CEO of Bitget, expressed enthusiasm about the growth of the TON ecosystem, highlighting the positive correlation between user growth, Total Value Locked (TVL), and token price.
"We believe in the potential of TON as a tool for creating a fair future. Our Telegram Signal Bot proves our commitment to user experience and community support," Chen emphasized.
Earlier, Pantera Capital made its largest blockchain investment in TON and plans to continue investing. The potential of TON is becoming evident not only to old-timers but also to communities outside. This brings in even more strong teams, developers, enthusiasts, and investors.
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