TL;DR
- Pantera Capital has announced its interest in acquiring Solana (SOL) tokens at a 39% discount from the market price, for a total of up to $250 million worth of tokens.
- The initiative is based on the financial situation of FTX, the cryptocurrency exchange owned by Sam Bankman-Fried. Selling SOL tokens to Pantera Capital could allow FTX to liquidate part of its holdings.
- SOL has experienced tremendous growth of 600% in the past year. Surpassing Bitcoin, which rose by 200% in the same period.
The crypto fund Pantera Capital has revealed its interest in acquiring discounted Solana (SOL) tokens through a new fund called the Pantera Solana Fund. This initiative aims to seize a unique opportunity to purchase up to $250 million worth of SOL tokens at a price 39% below the 30-day average.
The acquisition of these discounted tokens is based on the situation of FTX’s estate. The bankrupt cryptocurrency exchange owned by Sam Bankman-Fried, who was convicted of fraud. FTX is known for being an early supporter of Solana and holds a large number of SOL tokens. Pantera Capital could buy these tokens, allowing FTX’s estate to liquidate part of its holdings and free up funds that could be allocated to its creditors.
A Solution for FTX and a Business for Pantera Capital
Solana has experienced a significant increase in its price, with a 13.8% increase in the last 24 hours. This performance highlights SOL’s strong position in the cryptocurrency marke. As it has been one of the best-performing digital assets over the past year. With a growth of nearly 600%, surpassing Bitcoin’s 200% increase in the same period.
The Pantera Solana Fund aims to secure a significant stake in SOL at an attractive price. Which could provide potential investors with the opportunity to achieve long-term gains. Investors expect that the tokens acquired through this fund will undergo a vesting period of at least four years.. Suggesting that Pantera Capital is adopting a long-term investment strategy with SOL.
Pantera’s acquisition would represent a smart strategy to capitalize on Solana’s growth potential and diversify its cryptocurrency portfolio.
