Solana

Galaxy

Pantera Capital has successfully bid on a new batch of Solana (SOL) tokens, securing 2,000 tokens at a discounted price during the recent auction from the FTX bankruptcy estate. The cryptocurrency investment firm continues to <a href="https://www.bloomberg.com/news/articles/2024-04-25/pantera-capital-buys-another-trove-of-solana-tokens-from-ftx-estate?utm_content=crypto&amp;utm_medium=social&amp;utm_source=twitter&amp;utm_campaign=socialflow-organic" target="_blank" rel="noopener" data-wpel-link="external">participate</a> actively in the ongoing liquidation process of the defunct exchange FTX. 
This acquisition is part of several scheduled auctions to manage the disposal of FTX’s assets. The latest sale fetched a price higher than the previous auction’s rate of approximately $60 per token, signaling a growing investor interest in Solana despite its previous ties to FTX. Current market evaluations place these tokens at roughly $288,000, reflecting a robust valuation amid fluctuating market conditions. 
This series of auctions stems from the bankruptcy proceedings following<a href="https://www.cryptotimes.io/2023/04/13/collapsed-crypto-exchange-ftx-could-restart-as-per-its-attorneys/" data-wpel-link="internal"> FTX’s collapse</a> in November 2022, involving serious financial misconduct by its management. The liquidation strategy includes selling off an estimated $2.6 billion worth of Solana tokens, with Pantera and other firms like Galaxy Digital acquiring substantial shares in earlier sales. 
Despite a recent market downturn, Solana’s value remains strong, currently trading at about <a href="https://coinmarketcap.com/currencies/solana/" target="_blank" rel="noopener" data-wpel-link="external">$144</a>, a decrease of 1.55% in the last 24 hours. The upcoming auction will offer more tokens for potential buyers, boosting liquidity. 
The strategy of acquiring discounted digital assets demonstrates Pantera’s commitment to investing in blockchain technologies that promise long-term viability. This method not only capitalizes on Solana’s potential market recovery but also underlines confidence in the blockchain’s underlying technology. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also read: <a href="https://www.cryptotimes.io/2024/03/08/pantera-capital-eyes-250m-solana-purchase-from-ftx-assets/" data-wpel-link="internal">Pantera Capital Eyes $250M Solana Purchase from FTX Assets</a> 
</blockquote>

Pantera Buys Discounted SOL in FTX Auction

The Crypto Times

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