OKX Ventures Backs Innovative Trading App Blum, Ushering in a New Era for the TON Ecosystem

By Zach Anderson
February 13, 2025, 07:03

In a significant step toward enhancing the blockchain ecosystem, OKX Ventures has announced its strategic investment in Blum, a cutting-edge trading application specifically designed for Telegram users. This partnership not only signifies a strong commitment to advancing the TON ecosystem but also positions Blum at the forefront of the decentralized finance revolution.

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Blum’s Ascent: A Game-Changer in Crypto Trading

Launched in April 2024, Blum has quickly grown into a formidable player in the crypto trading arena, connecting users to both decentralized exchanges (DEXs) and centralized exchanges (CEXs). With an astonishing user base of 90 million and the second-largest Telegram channel in the world, boasting 33.4 million members, Blum stands out as a leader in the industry.

With 2.2 million unique wallets engaged in onchain activity and a victory in the sixth season of The Open League, Blum’s participation reflects its robust market presence. The platform’s standout feature, Memepad, has become a dominant force in daily transaction volume, facilitating $200 million in trading and listing 380 tokens on various DEXs.

Key Highlights of Blum:

• User Engagement: 90 million users with 2.2 million unique wallets.
• Trading Volume: Facilitated $200 million in Memepad trading.
• Project Incubator: Blum Labs has successfully accelerated 20 blockchain initiatives, including notable names such as PAWS and Gameness.

Strategic Partnership: Strengthening the TON Ecosystem

Jeff Ren, a Partner at OKX Ventures, expressed the firm’s excitement regarding this investment, emphasizing the potential for collaboration with Blum to elevate the TON ecosystem. "We are delighted to invest in Blum, a decentralized exchange for tokens from both centralized and decentralized platforms," Ren stated. He added that through OKX Connect, there are plans to onboard even more users, further bolstering the ecosystem’s growth.

This investment highlights a strategic vision focused on integrating innovative projects that have the potential to reshape the blockchain landscape. OKX Ventures is not just interested in capital infusion; they are deeply invested in fostering a collaborative environment that nurtures groundbreaking blockchain initiatives.

The Funding Round and Future Outlook

The funding for Blum was part of a notable round led by gumi Cryptos Capital, with backing from players such as Top.co, YZi Labs, Spartan, No Limit Holdings, Bitscale Capital, Wintermute, and Nomad Capital. In conjunction with this funding round, Blum has also revealed an updated roadmap for its 2025 product strategy, signaling an unwavering commitment to innovation and user experience enhancements.

With $100 million earmarked for identifying and supporting pioneering blockchain projects globally, OKX Ventures remains dedicated to promoting a thriving blockchain ecosystem. The investment in Blum exemplifies their philosophy of fostering innovation while steering the industry toward a healthier evolution.

Conclusion: The Future is Bright

In an ever-evolving landscape, Blum’s innovative approach to integrating trading within the popular Telegram platform signifies a pivotal moment for both the TON ecosystem and the broader crypto market. At Extreme Investor Network, we prioritize keeping our readers informed about groundbreaking developments like this one, emphasizing the crucial intersections of technology, finance, and community engagement.

Stay tuned as we continue to provide insights and updates on the latest trends and investments in the cryptocurrency space. Together, we can navigate the future of blockchain and investment opportunities.

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