Recently, Pantera Capital was announced as one of the successful bidders in a private Solana token auction overseen by FTX’s bankruptcy administrators. The exact number of tokens, around 2,000, and identities of those involved have not been disclosed. Bloomberg reported this sale, which is part of a larger liquidation process for FTX’s cryptocurrency holdings valued at roughly $2.6 billion.
according to a Bloomberg News report, Pantera Capital has been revealed as one of the winning bidders in the recent auction for Solana tokens, organized by the bankruptcy administrators of the defunct cryptocurrency exchange FTX. The deal, which has not been made public, involves the acquisition of roughly 2,000 SOL tokens, according to sources familiar with the matter.
According to Bloomberg’s report, the names of the people involved and specifics about the deal are undisclosed. Those who possess this information prefer to keep their identities hidden. Neither Pantera Capital nor the FTX estate’s representatives have responded to requests for comments.
The FTX estate seems to be actively selling off its holdings, including approximately $2.6 billion worth of Solana tokens. Within the past month, a large portion of these tokens – around two-thirds – was successfully transferred to new buyers such as Pantera and Galaxy Digital. However, it is important to note that these sold tokens are bound by a previously agreed upon vesting schedule, preventing them from being freely traded until they are gradually made available on the market over the next four years.
As a crypto investor, I’ve been keeping a close eye on the latest developments with Solana. According to a Bloomberg article I read recently, the price at which Solana tokens were sold in the latest auction surpassed the previous rate of around $60 per token. This is an intriguing sign of increasing confidence in the value of Solana, even amidst the broader market instability that has affected the token in the past. Insiders in the industry predict that there may be more auctions to come as the FTX estate continues to sell off its cryptocurrency assets.
As I pen this down (at 6:30 p.m. UTC on April 27), Solana (SOL) is approximately valued at $140.66 in the current market. This represents a decrease of 2.0% over the preceding 24 hours. However, it’s essential to note that within the year-to-date frame, SOL has experienced a significant surge, with gains amounting to 34.91%.
The well-known cryptocurrency analyst, known as “Altcoin Sherpa,” holds the opinion that the Solana (SOL) token’s value may surpass $500 by the end of 2021.
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2024-04-27 21:54