Bitget, a prominent global cryptocurrency exchange with a significant operational presence in the UAE, has announced a $20M fund for The Open Network (TON) ecosystem in collaboration with the Singapore-based investment firm Foresight Ventures.
The fund is intended to support early-stage projects developing on the Open Network. TON has been gaining considerable momentum, with the $TON price recently hitting a new all-time high.
The fund aims to fully support the growth of projects within the TON ecosystem by actively identifying promising initiatives and providing them with the necessary liquidity to succeed on the Bitget platform.
Gracy Chen, CEO of Bitget, expressed the company’s pleasure in seeing the TON ecosystem benefiting from a positive feedback loop due to an increase in users, TVL, and token price.
“Our $20M fund demonstrates our commitment to supporting projects that will drive widespread cryptocurrency adoption, as we believe in TON’s potential to create a more equitable future,” she stated.
“Our Telegram Signal Bot is just one example of how we are empowering the community and enhancing the user experience,” she added.
According to Delphi Digital, the growth of the TON ecosystem is supported by Telegram’s vast user base of 900M, which has driven the daily active addresses on TON to surpass those of Ethereum.
The total value locked (TVL) in the TON ecosystem has surged more than fivefold over the past two months, reaching $600M due to the influx of new projects and assets such as STON.fi, DeDust.io, and TON-USDT.
