VICTORIA, Seychelles, June 26,
2024 /PRNewswire/ -- Bitget, the leading
cryptocurrency exchange and Web3 company, announced a
$20 million TON Ecosystem Fund in
alliance with Singapore-based
investment firm Foresight Ventures, aiming to support early-stage
projects building on The Open Network (TON). This strategic
initiative highlights the duo's commitment to fostering innovation
and development within the TON ecosystem.
The Open Network (TON) has been gaining significant traction,
with $TON price reaching a new all-time high lately. According
to Delphi Digital, the ecosystem's growth is bolstered by
Telegram's massive user base of 900 million, pushing the daily
active addresses on TON beyond those of Ethereum.
The Total Value Locked (TVL) in the TON ecosystem has increased
more than fivefold over the past two months, reaching $600 million due to the influx of new projects
and assets such as STON.fi, DeDust.io, and TON-USDT. According to
Tether's official transparency page, the authorized
issuance of USDT on the TON blockchain has grown to approximately
$580 million, making it the
sixth-largest blockchain for USDT issuance, after TRON,
Ethereum, Solana, Avalanche, and
Omni.
The $20 million TON Ecosystem Fund
aims to fully support the development of projects within the TON
ecosystem. By leveraging Telegram's vast user base, Bitget aligns
with its vision of driving mass adoption
of cryptocurrency and creating a more equitable
future through crypto evolution. The fund will
actively seek out and support promising projects, providing them
with the necessary liquidity to thrive on the Bitget platform.
Gracy Chen, CEO of Bitget,
commented: "We are glad to see that the TON ecosystem is
experiencing a positive feedback loop due to the growth in users,
TVL, and token price. At Bitget, we are dedicated to fostering
innovation within the TON ecosystem. Our $20
million fund is a testament to our commitment to supporting
projects that will drive the mass adoption of
cryptocurrency. We believe in the potential of TON and
its ability to create a more equitable future. Our Telegram Signal
Bot is just one example of how we are empowering the community and
enhancing the user experience."
Following the launch of Telegram Signal Bot in May, Bitget
continues to innovate with the TON Ecosystem Fund. The Telegram
Signal Bot, a groundbreaking tool designed to enhance the Telegram
experience for group owners, is available at no cost. It allows
group owners to easily share signals with their community,
monetizing their expertise and knowledge. Key features of the
Telegram Signal Bot include a one-click signal-sharing capability
and advanced group management tools, ensuring high-quality follower
engagement and continual access to updated Telegram
functionalities.
About Bitget
Established in 2018, Bitget is the world's leading
cryptocurrency exchange and Web3 company. Serving over
25 million users in 100+ countries and regions, the Bitget exchange
is committed to helping users trade smarter with its pioneering
copy trading feature and other trading solutions. Formerly known as
BitKeep, Bitget Wallet is a world-class multi-chain
crypto wallet that offers an array of comprehensive
Web3 solutions and features including wallet functionality, swap,
NFT Marketplace, DApp browser, and more. Bitget
inspires individuals to embrace crypto through
collaborations with credible partners, including legendary
Argentinian footballer Lionel Messi
and Turkish National athletes Buse
Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş
(Boxing gold medalist) and İlkin Aydın (Volleyball national
team).
For more information, visit: Website
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SOURCE Bitget