Cryptocurrency exchanges Bitget and Foresight Ventures have invested $30 million in The Open Network (TON) blockchain.
Investment in TON Blockchain
According to The Block, cryptocurrency exchange Bitget, along with Foresight Ventures, made a $30 million strategic investment in The Open Network (TON) blockchain. This investment will be made through the purchase of TON tokens.
Goal and Ecosystem Support
The aim of the investment is to support the development of the TON ecosystem and focus on the development of Telegram-based projects such as Hamster Kombat and Notcoin. Bitget CEO Gracy Chen stated that both parties will jointly promote the development of more innovative products and solutions.
Forecasts and Representatives' Statements
Foresight Ventures co-founder and CEO Forest Bai added that the rapid development of the TON ecosystem is currently the biggest growth driver in the cryptocurrency market and will continue to be for 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,” noted Forest Bai.
At the time of writing, the price of TON remains stable at $5.47 per token. The investments by Bitget and Foresight Ventures could be a significant step in the development of the TON ecosystem and help attract new users and developers.
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