In September 2024, global crypto trading platform Bitget and cryptocurrency investment firm Foresight Ventures announced a strategic investment of $30 million into The Open Network (TON) ecosystem.
Support for the TON Ecosystem
This investment was made through the purchase of TON coins at a discount and aims to accelerate the development of decentralized applications (dApps) and play-to-earn (P2E) games integrated with Telegram. This move also enables both companies to engage in the governance and future planning of the TON ecosystem, marking a significant step in strengthening this blockchain ecosystem.
Long-Term Investment Goals
The $30 million investment is expected to support not only short-term developments but also to strengthen both companies' involvement in the governance of the TON ecosystem. According to the latest data, the TON ecosystem has experienced a significant surge in user activity, especially after the launch of mini-apps on Telegram in 2023. This surge was largely driven by the rapid adoption of decentralized applications like Notcoin and Hamster Kombat.
Bitget's Growth in 2024
Besides this investment, Bitget has seen remarkable growth throughout 2024. In September, the platform celebrated its sixth anniversary by announcing that its user base had surpassed 45 million globally. This is nearly double the previous year, reflecting the growing demand for innovative projects in the crypto space. Bitget also confirmed that it now ranks among the top four largest crypto exchanges by trading volume, with daily transactions reaching $1.5 billion.
This investment aims to accelerate the development of more blockchain-based applications and solutions within the TON ecosystem. Bitget and Foresight Ventures also plan to focus on developing P2E games and other solutions that can attract more users to the ecosystem.
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