Bitget and Foresight Ventures Launch $20 Million Fund to Support TON Ecosystem Growth
In a strategic move to foster innovation and development within the TON ecosystem, Bitget, a global digital asset trading platform, has partnered with Foresight Ventures to launch a $20 million fund aimed at bolstering early-stage projects on The Open Network (TON).
The TON ecosystem has been gaining significant traction, with the price of its cryptocurrency, $TON, reaching new all-time highs. This surge in investor confidence reflects growing interest in TON’s underlying technology and market potential.
The Open Network, known for its innovative approach and integration with Telegram’s extensive user base, has seen its daily active addresses surpass those of Ethereum. With nearly 900 million users on Telegram, the network’s scalability and appeal are evident.
The Total Value Locked (TVL) within TON has surged fivefold in just two months, reaching $600 million. This growth is driven by new projects and assets, including STON.fi, DeDust.io, and TON-USDT.
Tether has also expanded its presence on the TON blockchain, with authorized USDT issuance reaching $580 million, making TON the sixth-largest blockchain for USDT issuance.
The $20 million TON Ecosystem Fund aims to fuel further innovation by providing support and liquidity to nascent projects within the TON ecosystem. Gracy Chen, CEO of Bitget, emphasized the importance of supporting projects that drive mass adoption of cryptocurrency.
The initiative builds on Bitget’s recent technological advancements, such as the launch of the Telegram Signal Bot, which enhances signal sharing and group management for Telegram users.
Overall, the partnership between Bitget and Foresight Ventures signals a commitment to supporting the growth and development of the TON ecosystem, paving the way for a more equitable future in the world of cryptocurrency.
