Global leading cryptocurrency exchange Bitget has announced 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 promoting TON’s ecological innovation and development.
The Open Network (TON) has recently gained significant attention, with its price reaching an all-time high. According to Delphi Digital’s report, TON’s daily active address count has surpassed Ethereum’s due to Telegram’s massive user base of 900 million, promoting the growth of TON’s ecology.
The total value locked (TVL) of TON’s ecology has increased by more than five times in 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 USDT issuance on the TON blockchain has grown to approximately $580 million, making it the sixth-largest USDT issuance blockchain after TRON, Ethereum, Solana, Avalanche, and Omni.
This $20 million TON Ecology Fund aims to fully support the development of projects within TON’s ecology. By leveraging Telegram’s massive user base, Bitget remains committed to promoting the large-scale adoption of cryptocurrencies and creating a fairer future through cryptographic evolution. The fund will actively seek and support promising projects, providing necessary liquidity for their flourishing development on the Bitget platform.
Gracy Chen, CEO of Bitget, said, “We are pleased to see TON’s ecology enter a virtuous cycle due to user growth, TVL, and token price increases. At Bitget, we are committed to promoting innovation in TON’s ecology. Our $20 million fund is a testament to our commitment to promoting large-scale adoption of cryptocurrency projects. We believe in TON’s potential and its ability to create a fairer future. Our Telegram trading signal robot is just one example of how we empower the community and enhance user experience.”
Following the launch of the Telegram trading signal robot in May, Bitget continues to innovate through the TON Ecology Fund. As an on-chain extension of Bitget’s ecology, Bitget Wallet has integrated with the TON mainnet and added support for TON Connect, providing users with easy access to TON-related dApps. In addition, Bitget Wallet has launched the Tap2Earn section, which collects a series of popular Tap2Earn projects within TON’s ecology.
Established in 2018, Bitget is a world-leading cryptocurrency exchange and Web3 company, providing services to more than 25 million users in over 100 countries worldwide. Bitget is committed to helping users trade more intelligently through its pioneering copy trading function and other trading solutions. Bitget Wallet, formerly known as BitKeep, is a world-class multi-chain cryptocurrency wallet that provides a comprehensive range of Web3 solutions and features, including wallet functions, exchanges, NFT markets, DApp browsers, and more. Bitget encourages the adoption of cryptocurrencies through partnerships with Argentine football legend Messi, official esports event organizer PGL, and others.