Leading cryptocurrency exchange Bitget and Singaporean investment firm Foresight Ventures have joined forces to launch a $20 million TON Ecosystem Fund.

This strategic initiative aims to support early-stage projects building on The Open Network (TON), highlighting both parties’ commitment to fostering growth within the rapidly expanding ecosystem.

TON Surpasses Ethereum in Daily Active Users

The Open Network (TON) has been experiencing a surge in popularity, with its native token, TON, reaching new all-time highs.

This growth is attributed to Telegram’s massive user base of 900 million, pushing TON’s daily active addresses beyond those of established player Ethereum, according to Delphi Digital.

TON Ecosystem Boasts Impressive Growth

The TON ecosystem’s Total Value Locked (TVL) has also seen significant growth, increasing over fivefold in just two months to reach $600 million.

This rise can be attributed to the influx of new projects and assets like STON.fi, DeDust.io,and TON-USDT.

Tether’s official transparency page reveals an authorized issuance of USDT on the TON blockchain of approximately $580 million, making it the sixth-largest blockchain for USDT issuance.

Bitget’s $20 Million Fund Supports TON’s Future

The $20 million TON Ecosystem Fund aims to provide comprehensive support for projects within the TON ecosystem.Bitget, leveraging Telegram’s vast user base, seeks to drive mass adoption of cryptocurrency and create a more equitable future through crypto evolution.

The fund will actively identify and support promising projects, offering them necessary liquidity on the Bitget platform.

Bitget CEO Gracy Chen on the Initiative

“We are thrilled to witness the positive feedback loop within the TON ecosystem, fueled by user growth, TVL increase,and token price appreciation,” said Gracy Chen, CEO of Bitget.

“At Bitget, fostering innovation within TON is a top priority. This $20 million fund signifies our commitment to supporting projects driving crypto adoption.

We strongly believe in TON’s potential to create a more equitable future. Our Telegram Signal Bot is just one example of how we empower the community and enhance the user experience.”

Bitget Continues Innovation with TON Ecosystem Fund

This fund launch follows Bitget’s groundbreaking Telegram Signal Bot, a free tool launched in May to enhance the Telegram experience for group owners.

The bot allows owners to easily share signals with their communities, monetizing their expertise. Key features include one-click signal sharing and advanced group management tools, ensuring high-quality follower engagement.