TON Raises $30M From Bitget and Foresight Ventures to Boost Tap-to-Earn Adoption
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
The Open Network (TON Blockchain) has secured an investment of $30 million from crypto exchange Bitget and Web3 investment firm Foresight Ventures.
The funding, which is made through the acquisition of TON tokens, is aimed at accelerating the adoption of Tap-to-Earn models, GameFi, and other emerging trends within the TON ecosystem, the company said in a press release shared with CryptoNews.
TON is a blockchain that has gained momentum within the Telegram ecosystem, leveraging the platform’s 900 million users.
A recent report from Bitget Research highlighted that TON has become one of the fastest-growing blockchains in 2024, experiencing rapid growth across several metrics.
On-chain transactions, total value locked (TVL), and decentralized exchange (DEX) trading volumes have all surged, along with the popularity of decentralized applications (dApps) such as Catizen, DOGS, and Tomarket, which have attracted millions of users.
#TON TVL increased by +58% in 30 days and is now over $800 million pic.twitter.com/9NMTXvn72o
“In the past six months, TON’s TVL has surged 18-fold to reach $350 million,” Foresight Ventures’ Co-Founder and CEO Forest Bai said.
He added that the ecosystem boasts over 1,000 dApps, many with millions of users.
Bitget’s investment in the TON blockchain comes as the exchange continues to expand.
The exchange’s global user base has grown to 45 million by Q3 2024, doubling in the past year.
In 2024, Bitget also contributed to TON’s ecosystem through TONNECT 2024, a major online event aimed at accelerating the
Read more on cryptonews.com
