According to Cointelegraph, Toncoin received an investment of $8 million from Mirana Ventures.
The TON blockchain, which will be used in Telegram's new advertising platform, continues to attract significant investment from Web3 players.
At this point, Mirana Ventures purchased $8 million from the network's native token, Toncoin. Mirana Ventures became the last company to invest in the TON ecosystem.
It was stated that this investment is planned to be used in ongoing product developments including TON Foundation, Bybit and Ethereum Layer 2 Mantle Network.
Many industry players are looking to gain an early mover advantage by allocating capital and leveraging the TON ecosystem and its built-in connection with Telegram, said Steve Yun, president of the TON Foundation.
After the news, TON price started to rise.
*This is not investment advice.