Pantera Capital Makes Main Solana Acquisition In 2,000 SOL Public sale From FTX

Asset administration agency Pantera Capital has emerged as one of many profitable bidders in an public sale of discounted Solana (SOL) tokens performed by the liquidators overseeing the chapter of the previous FTX cryptocurrency alternate.

The sale, which included roughly 2,000 SOL tokens, signifies Pantera Capital’s continued curiosity in increasing its Solana portfolio.

FTX Sells Further Locked Solana Tokens In Personal Public sale

The public sale, whose particulars haven’t been publicly disclosed, was confirmed to Bloomberg by a supply accustomed to the matter who requested anonymity. Neither Pantera Capital nor representatives of the FTX property offered have commented on the latest sale. 

This latest acquisition follows a deal earlier this month during which the FTX estate bought a considerable portion of its $2.6 billion Solana token holdings at a reduced fee. 

In accordance with educated people, Pantera Capital and Galaxy Digital had been among the many profitable contributors within the public sale transaction.

The 41 million SOL tokens bought by the FTX property are presently locked below a pre-agreed vesting interval, making them unavailable for quick buying and selling available in the market. These tokens will progressively turn into obtainable on the market over 4 years.

Sources accustomed to the sale point out that the tokens had been bought at a better value than the previous auction, which fetched roughly $60 per token. 

Pantera Capital Goals To Launch Pantera Fund V 

In accordance with Bloomberg, Pantera Capital is actively pursuing the launch of a brand new fund to lift greater than $1 billion. The fund, dubbed “Pantera Fund V,” goals to supply traders with elevated funding choices throughout the spectrum of blockchain property, together with startup fairness, early-stage tokens, and liquid tokens.

Ought to the fundraising efforts show profitable, the Pantera Fund V could be the largest fund raised for the reason that tumultuous interval marked by bankruptcies within the blockchain sector in 2022. 

The brand new fund can also be designed with a minimal funding threshold of $1 million for certified traders. The primary shut is slated for April 1, 2025. As Bloomberg notes, restricted companions are anticipated to contribute a minimum of $25 million. 

Insiders accustomed to the matter, who most well-liked to stay nameless, have indicated that the Pantera Fund V is anticipated to achieve an identical dimension as its predecessor, which amassed roughly $1.25 billion in capital two years in the past. 

Solana’s native token, SOL, has proven minimal fluctuations in comparison with Thursday’s buying and selling and is presently valued at $144 per token on the time of writing. SOL has witnessed a major surge of over 500% year-to-date, contributing to its market capitalization of $64 billion. 

In accordance with CoinGecko data, this efficiency has propelled Solana to fifth place among the many high 10 largest cryptocurrencies available in the market.

Featured picture from Shutterstock, chart from TradingView.com