Foresight

Gracy

Toncoin

Impact

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitget-launches-ton-ecosystem-fund" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitget Launches TON Ecosystem Fund</a><br></p>
<p style="text-align: justify">The Open Network (TON), a blockchain and cryptocurrency platform integrated with Telegram, is receiving a significant boost from Bitget crypto exchange through a newly announced fund. On June 26, Bitget revealed its partnership with Foresight Ventures, a Singaporean <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investment</a> firm, to establish a $20 million TON Ecosystem Fund.</p>
<h2 id="what-is-the-objective-of-the-fund">What Is the Objective of the Fund?</h2>
<p style="text-align: justify">The primary goal of the $20 million TON Ecosystem Fund is to aid early-stage projects within the TON network and propel the development of TON-based applications and Toncoin (TON), its native cryptocurrency. The fund will also provide liquidity on the Bitget platform, ensuring comprehensive support for project growth within the TON ecosystem, according to <a href="https://newslinker.co" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">the announcement</a>.</p>
<p style="text-align: justify">Delphi Digital reports that the extensive user base of Telegram, with its 900 million monthly users, is a significant driver behind the TON ecosystem’s growth. By mid-June, the TON blockchain had surpassed Ethereum in daily active addresses for nearly a month, with the total value locked (TVL) in the ecosystem increasing over fivefold to $600 million in a mere two months, driven by new projects and assets like TON-based <a href="https://en.bitcoinhaber.net/the-tides-of-crypto-are-traditional-banks-set-to-dominate-the-stablecoin-market" data-wpel-link="internal" rel="noopener noreferrer nofollow">Tether</a> (USDT), DeDust.io, and Ston.</p>
<h2 id="how-will-bitget-s-initiatives-impact-the-crypto-space">How Will Bitget’s Initiatives Impact the Crypto Space?</h2>
<p style="text-align: justify">Bitget CEO Gracy Chen emphasized the broader vision behind the financing initiative, aiming for widespread crypto adoption. Chen stated, “We are pleased to see the TON ecosystem experiencing a positive feedback loop due to the increase in users, TVL, and token price. We believe in TON’s potential and its ability to create a fairer future. Telegram Signal Bot is just one example of how we empower the community and improve the user experience.”</p>
<p style="text-align: justify">The new fund follows Bitget’s previous efforts to support the growing TON ecosystem. On June 25, Bitget’s Web3 wallet, Bitget Wallet, launched a support package for the TON network, aiming to integrate decentralized applications within the ecosystem. Bitget had earlier introduced the Telegram Signal Bot to facilitate direct trading signals among trading communities.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<p style="text-align: justify">Several critical insights can be extracted from this development:</p>
<ul>
 <li style="text-align: justify">New projects in the TON network will receive early-stage funding, accelerating innovation.</li>
 <li style="text-align: justify">Increased liquidity on the Bitget platform will enhance the trading experience.</li>
 <li style="text-align: justify">The integration leverages Telegram’s massive user base to drive TON ecosystem growth.</li>
 <li style="text-align: justify">Expansion of the TON blockchain is already evident with significant user activity and TVL growth.</li>
</ul>
<p style="text-align: justify">In conclusion, Bitget’s new fund for the TON ecosystem marks a strategic move aimed at fostering early-stage projects and driving the mass adoption of cryptocurrency. The collaboration with Foresight Ventures and the leveraging of Telegram’s user base are pivotal in this ambitious endeavor.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitget-launches-ton-ecosystem-fund" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitget Launches TON Ecosystem Fund</a></h5>

Bitget Launches TON Ecosystem Fund

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BH NEWS

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