TON token sees spectacular 11% intraday acquire after Pantera funding

• Pantera Capital invests in TON, strengthening its world crypto community potential.
• The worth of the TON token elevated by 11.29% in 24 hours to succeed in $5.287.
• Technical indicators level to the continued upward momentum of TON

Pantera Capital has introduced its funding in TON, a Layer 1 community developed with origins in Telegram and now powered by the open-source neighborhood. This funding underscores the agency's perception in TON's potential to considerably increase the supply of cryptocurrencies, leveraging Telegram's strong person base of greater than 900 million month-to-month lively customers.

Pantera Capital sees TON's integration with Telegram as a key step in the direction of turning into one of many largest crypto networks on the planet. As talked about within the official weblog put up, TON, built-in into this platform, advantages from Telegram's big attain and seamless person expertise.

In January 2024 alone, Telegram recorded 36.7 million downloads, surpassing its nearest competitor Sign tenfold. Moreover, the joint effort between Telegram and TON is especially noteworthy as a result of Telegram embodies a lot of the Web3 ethos, emphasizing decentralization, safety, and person empowerment.

Paul Veradittakit, managing companion of Pantera, famous in a weblog put up:

“Telegram is the one main platform that is freed from regulatory limitations to include Web3 for an open blockchain community.”

In contrast to different main messaging platforms corresponding to Messenger and WeChat, which have confronted regulatory challenges of their makes an attempt to combine cryptocurrencies and digital funds, Telegram is standing on the sidelines. It affords a regulatory compliant setting that’s conducive to cryptocurrency integration.

TON value motion

The TON token has seen a major improve in worth over the previous 24 hours, reaching an intraday excessive of $5.383. At press time, the token is buying and selling at $5.287, up 11.29% from yesterday.

TON/USD 24 hour chart (supply: CoinStats)

This improve in worth locations TON because the ninth largest cryptocurrency by market cap, which now stands at $18,458,514,828 – a rise of 11.91%. This improve is essentially attributable to Pantera Capital's latest funding in Telegram's TON blockchain venture, which has fueled renewed curiosity and optimism within the crypto neighborhood.

As compared, TON has outperformed Bitcoin, exhibiting an 8.32% improve in comparison with the main cryptocurrency. Nonetheless, regardless of the bullish value motion, buying and selling quantity for TON has decreased by 9.03% for a complete of $226,761,318 within the final 24 hours. This means that whereas market sentiment is optimistic, buying and selling exercise has decreased, suggesting a extra cautious method by buyers and merchants.

TON upward trajectory on the rise

Within the technical evaluation of the 4-hour chart, the Bull Bear Energy indicator reveals a optimistic development with rising inexperienced bars above the zero line. This sample means that bullish momentum is constructing, indicating a possible uptrend on the horizon.

TON/USD 4-hour chart (supply: Tradingview)

On the identical time, the Relative Energy Index (RSI) is situated at 58.02 and is shifting vertically above the sign line. This transfer underscores a bullish trajectory for the TON market within the close to time period.

Importantly, with the RSI above the impartial threshold however beneath the overbought zone, there seems to be ample alternative for additional upside with out instantly hitting overbought circumstances. This setup suggests a robust short-term bullish outlook for the market.