While Toncoin continues to survive despite all the negativity, news of a $30 million investment came.
According to The Block, cryptocurrency exchange Bitget and Foresight Ventures made a $30 million strategic investment in The Open Network (TON) blockchain.
This strategic investment will be made through the purchase of TON tokens.
It was stated that the aim of the investment was to support the development of the TON ecosystem and focus on the development of Telegram-based projects such as Hamster Kombat and Notcoin.
“Both parties will jointly promote the development of more innovative products and solutions,” Bitget CEO Gracy Chen said of the investment.
Forest Bai, co-founder and CEO of Foresight Ventures, added: “The rapid development of the TON ecosystem is undoubtedly the biggest growth driver of the cryptocurrency market right now and in the next 3 to 5 years. At this point, the rise of the TON ecosystem represents the biggest growth opportunity in the cryptocurrency market this year. In the past six months, TON’s total lockup volume (TVL) has increased by 18 times, reaching $350 million. There are currently over 1,000 dApps in the TON ecosystem, including many star apps with millions of users. We hope to further help developers in the TON ecosystem achieve groundbreaking growth.”
TON price, which has not seen much price change in the last 24 hours, continues to be traded at $5.47 at the time of writing.
*This is not investment advice.