• Pantera Capital has bought extra Solana (SOL) from the FTX chapter property.
• FTX is auctioning off SOL, with extra tokens to be bought to successful bidders.

Pantera Capital has got every other stockpile of Solana (SOL) tokens at discounted costs from the FTX chapter property, Bloomberg reported.

The $5.2 billion crypto mission funds company, secured the brand new stash of locked SOL after rising one of the vital winners within the ongoing public sale of Solana tokens.

Pantera, along crypto company Galaxy Digital, scooped extra of the altcoin in closing month’s $1.9 billion SOL public sale. Today’s document says the corporate has bought further tokens from the two,000 SOL FTX bought this week.

FTX’s property held over 41 million locked SOL price greater than $6 billion, and the chapter property’s greenlight to promote has attracted numerous consideration from institutional consumers. Pantera has regarded to shop for extra SOL and has reportedly earmarked as much as $250 million for this.

Solana (SOL) value

Solana (SOL) fell beneath $10 within the wake of FTX’s implosion and chapter submitting in November 2022.

 The cryptocurrency rose sharply via 2023, outperforming friends as former FTX CEO Sam Bankman-Fried confronted prison fees and used to be discovered accountable. Bankman-Fried used to be sentenced to twenty-five years imprisonment in March.

SOL additionally benefitted from an explosion of meme cash at the blockchain community, with Bonk and dogwifhat standout tokens in overdue 2023 and early this yr.

Solana’s value has on the other hand declined from its multi-year highs above $200 reached in March. Currently, its buying and selling round $142, down 23% prior to now 30 days and a couple of% within the closing 24 hours.

SOL value may just retreat to fresh make stronger round $125 amid supply-side power, whilst a bullish turn may just propel it against the hot top.