Pantera Capital’s Strategy to Acquire Discounted SOL Tokens from FTX Estate

Pantera Capital, a crypto asset manager valued at $5.2 billion, is strategically maneuvering in the crypto industry. They have initiated a fundraising campaign with the specific aim of acquiring Solana (SOL) tokens from the bankrupt FTX exchange.

To secure the necessary funds for this acquisition, Pantera has launched the Pantera Solana Fund. This fund provides investors with an opportunity to purchase up to $250 million worth of SOL tokens from the FTX estate. The unique aspect of this opportunity is that investors can buy SOL at a discounted rate of 39%, but they must agree to a four-year waiting period.

This commitment from investors highlights their dedication to the long-term potential of Solana and demonstrates Pantera’s strategic approach. By acquiring a significant amount of SOL tokens at a discounted rate, Pantera and its investors position themselves for potential substantial gains. However, the realization of these gains depends on the recovery of the market and the performance of Solana.

Presently, the FTX estate holds approximately 41.1 million SOL coins, which are valued at around $5.4 billion. This constitutes about 10% of the total supply of Solana tokens. Despite FTX’s bankruptcy, the SOL token has proven resilient, experiencing a 2.51% increase in the past 24 hours and currently trading at $144.51. Over the course of a week, SOL has gained over 10.5%, and in the past month, an impressive 49.7%.

Crypto analyst Skew recently highlighted the significance of Solana surpassing the $142 mark. This milestone could indicate a bullish trend and potentially push the value of SOL to $191.

Pantera Capital’s strategic move can be seen as a calculated bet on the resilience and growth potential of Solana.