The open network (ton), a robust blockchain and cryptocurrency platform integrated with telegram, is set to experience a significant boost with a new financial initiative from bitget, a leading crypto exchange. Bitget has announced the inception of a $20 million ton ecosystem fund, established in collaboration with singapore-based investment firm foresight ventures. This strategic alliance was disclosed to cointelegraph on june 26. The $20 million ton ecosystem fund is engineered to support nascent projects within the ton framework amidst the burgeoning proliferation of ton-based applications and its native cryptocurrency, toncoin (ton). This fund is tailored to facilitate comprehensive project development within the ton ecosystem, including ensuring liquidity on the bitget platform, as detailed in the announcement. Record-breaking momentum for ton in 2024 the funding endeavor aims to harness the dynamic expansion of the ton ecosystem in 2024. As reported by delphi digital, the growth of ton is significantly propelled by telegram's massive user base, which reaches 900 million monthly, channeling a steady stream of users into the crypto sphere. By mid-june, the ton blockchain had consistently registered more active addresses than ethereum almost daily for nearly a month. The total value locked (tvl) within the ton ecosystem has surged more than fivefold in the last two months, ascending to $600 million, driven by the influx of new projects and assets such as ton-based tether (usdt), dedust. Io, ston. Fi, and others. Furthermore, ton’s indigenous cryptocurrency, toncoin, has been reaching unprecedented highs in recent months, peaking at $8. 17 on june 14. According to coingecko, ton has yielded over 400% returns since the start of 2024. Bitget's vision for widespread crypto adoption through this new funding initiative, bitget and foresight ventures aspire to catalyze widespread crypto adoption, as articulated by bitget ceo gracy chen. “we are thrilled to witness the ton ecosystem entering a virtuous cycle with growth in users, tvl, and token price,” remarked gracy chen. “we are confident in ton’s potential to foster a more equitable future. Our telegram signal bot exemplifies how we are empowering the community and enhancing user experiences. ” the new ton ecosystem fund is not bitget's inaugural venture into the rapidly evolving ton ecosystem. On june 25, bitget’s non-custodial wallet, bitget wallet, unveiled a comprehensive support package for the ton network, aimed at integrating decentralized applications within the ton ecosystem. Previously, bitget launched the telegram signal bot, crafted to facilitate seamless trading signals directly within trading communities. The open network (ton), a robust blockchain and cryptocurrency platform integrated with telegram, is set to experience a significant boost with a new financial initiative from bitget, a leading crypto exchange. Bitget has announced the inception of a $20 million ton ecosystem fund, established in collaboration with singapore-based investment firm foresight ventures. This strategic alliance was disclosed to cointelegraph on june 26. The $20 million ton ecosystem fund is engineered to support nascent projects within the ton framework amidst the burgeoning proliferation of ton-based applications and its native cryptocurrency, toncoin (ton). This fund is tailored to facilitate comprehensive project development within the ton ecosystem, including ensuring liquidity on the bitget platform, as detailed in the announcement. Record-breaking momentum for ton in 2024 the funding endeavor aims to harness the dynamic expansion of the ton ecosystem in 2024. As reported by delphi digital, the growth of ton is significantly propelled by telegram's massive user base, which reaches 900 million monthly, channeling a steady stream of users into the crypto sphere. By mid-june, the ton blockchain had consistently registered more active addresses than ethereum almost daily for nearly a month. The total value locked (tvl) within the ton ecosystem has surged more than fivefold in the last two months, ascending to $600 million, driven by the influx of new projects and assets such as ton-based tether (usdt), dedust. Io, ston. Fi, and others. Furthermore, ton’s indigenous cryptocurrency, toncoin, has been reaching unprecedented highs in recent months, peaking at $8. 17 on june 14. According to coingecko, ton has yielded over 400% returns since the start of 2024. Bitget's vision for widespread crypto adoption through this new funding initiative, bitget and foresight ventures aspire to catalyze widespread crypto adoption, as articulated by bitget ceo gracy chen. “we are thrilled to witness the ton ecosystem entering a virtuous cycle with growth in users, tvl, and token price,” remarked gracy chen. “we are confident in ton’s potential to foster a more equitable future. Our telegram signal bot exemplifies how we are empowering the community and enhancing user experiences. ” the new ton ecosystem fund is not bitget's inaugural venture into the rapidly evolving ton ecosystem. On june 25, bitget’s non-custodial wallet, bitget wallet, unveiled a comprehensive support package for the ton network, aimed at integrating decentralized applications within the ton ecosystem. Previously, bitget launched the telegram signal bot, crafted to facilitate seamless trading signals directly within trading communities. Bitget propels ton ecosystem with $20m fund infusion

Bitget Propels TON Ecosystem with $20M Fund Infusion

Last Updated: June 26, 2024By

The Open Network (TON), a robust blockchain and cryptocurrency platform integrated with Telegram, is set to experience a significant boost with a new financial initiative from Bitget, a leading crypto exchange.

Bitget has announced the inception of a $20 million TON Ecosystem Fund, established in collaboration with Singapore-based investment firm Foresight Ventures. This strategic alliance was disclosed to Cointelegraph on June 26.

The $20 million TON Ecosystem Fund is engineered to support nascent projects within the TON framework amidst the burgeoning proliferation of TON-based applications and its native cryptocurrency, Toncoin (TON).

This fund is tailored to facilitate comprehensive project development within the TON ecosystem, including ensuring liquidity on the Bitget platform, as detailed in the announcement.

Record-Breaking Momentum for TON in 2024

The funding endeavor aims to harness the dynamic expansion of the TON ecosystem in 2024. As reported by Delphi Digital, the growth of TON is significantly propelled by Telegram’s massive user base, which reaches 900 million monthly, channeling a steady stream of users into the crypto sphere.

By mid-June, the TON blockchain had consistently registered more active addresses than Ethereum almost daily for nearly a month.

The total value locked (TVL) within the TON ecosystem has surged more than fivefold in the last two months, ascending to $600 million, driven by the influx of new projects and assets such as TON-based Tether (USDT), DeDust.io, Ston.fi, and others. Furthermore, TON’s indigenous cryptocurrency, Toncoin, has been reaching unprecedented highs in recent months, peaking at $8.17 on June 14. According to CoinGecko, TON has yielded over 400% returns since the start of 2024.

Bitget’s Vision for Widespread Crypto Adoption

Through this new funding initiative, Bitget and Foresight Ventures aspire to catalyze widespread crypto adoption, as articulated by Bitget CEO Gracy Chen.

“We are thrilled to witness the TON ecosystem entering a virtuous cycle with growth in users, TVL, and token price,” remarked Gracy Chen. “We are confident in TON’s potential to foster a more equitable future. Our Telegram Signal Bot exemplifies how we are empowering the community and enhancing user experiences.”

The new TON Ecosystem Fund is not Bitget’s inaugural venture into the rapidly evolving TON ecosystem.

On June 25, Bitget’s non-custodial wallet, Bitget Wallet, unveiled a comprehensive support package for the TON network, aimed at integrating decentralized applications within the TON ecosystem.

Previously, Bitget launched the Telegram Signal Bot, crafted to facilitate seamless trading signals directly within trading communities.

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