Bitget, a leading global cryptocurrency exchange and Web3 company, has announced the launch of a $20 million TON Ecology Fund in partnership with Singaporean investment firm Foresight Ventures. The fund aims to support early-stage projects built on The Open Network (TON), highlighting both parties’ commitment to fostering innovation and development within the TON ecosystem.
The Open Network (TON) is currently garnering significant attention, with TON’s price recently reaching an all-time high. According to a report by Delphi Digital, TON’s daily active addresses have surpassed Ethereum’s, thanks to Telegram’s massive user base of 900 million, fueling growth within the TON ecosystem.
The Total Value Locked (TVL) within the TON ecosystem has increased more than fivefold in the past two months, reaching $600 million. This surge is attributed to the influx of new projects and assets like STON.fi, DeDust.io, and TON-USDT. As per 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 USDT issuing blockchain after TRON, Ethereum, Solana, Avalanche, and Omni.
The $20 million TON Ecology Fund is dedicated to fully supporting 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 cryptocurrencies and creating a more equitable future through crypto evolution. The fund will actively seek and support promising projects, providing them with the necessary liquidity for robust growth on the Bitget platform.
Gracy Chen, CEO of Bitget, stated:
Following the launch of the Telegram Trading Signal Bot in May, Bitget continues to innovate through the TON Ecology Fund. As an on-chain expansion of the Bitget ecosystem, the Bitget Wallet has completed integration with the TON mainnet and added support for TON Connect, allowing users easy access to dApps related to TON. Additionally, the Bitget Wallet has introduced the Tap2Earn section, gathering a series of popular Tap2Earn projects within the TON ecosystem.
About Bitget:
Founded in 2018, Bitget is one of the world’s leading cryptocurrency exchanges and Web3 companies, serving over 25 million users across more than 100 countries. Bitget is committed to helping users trade smarter through its pioneering copy trading feature and other trading solutions.
Formerly known as BitKeep, the Bitget Wallet is a world-class multi-chain cryptocurrency wallet offering a comprehensive range of Web3 solutions and features, including wallet services, exchange, NFT marketplace, and DApp browser. Bitget encourages the public adoption of cryptocurrencies through collaborations with legendary Argentine footballer Messi and the official esports event organization PGL.
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