Pantera Capital, a prominent cryptocurrency asset management firm, has kicked off a fundraising initiative aimed at purchasing Solana (SOL) tokens from the estate of the defunct FTX exchange.

With plans to raise up to $250 million for the Pantera Solana Fund, the company is targeting the acquisition of discounted SOL tokens from FTX Estate, offering investors the opportunity to buy at a reduced rate compared to the current market value.

Capitalizing on Discounted SOL Tokens

Pantera Capital intends to secure a portion of FTX’s 41.1 million SOL holdings at a rate of $59.95 per token, marking a substantial 57% discount from the current market price of $142 per token. Investors participating in this opportunity will need to commit to a vesting period of up to four years.

FTX’s SOL Holdings Details

The FTX estate possesses around 41.1 million SOL coins, valued at approximately $5.4 billion, making up roughly 10% of the total Solana token supply. Solana’s SOL token has displayed strong performance, showing a 2.51% increase in the last 24 hours, with the current trading price at $142.51.

Furthermore, SOL has seen notable gains of over 10.5% in the weekly chart and an impressive 49.7% in the monthly chart, driven by increased memecoin trading activity.

This strategic move by Pantera Capital highlights its dedication to seizing cryptocurrency investment opportunities, leveraging the discounted SOL tokens to potentially yield significant returns for investors during the vesting period.

FAQs

What is the purpose of Pantera Capital’s fundraising campaign?

Pantera Capital is raising funds to purchase discounted SOL tokens from the estate of the bankrupt FTX exchange.

What is the target price for SOL tokens set by Pantera Capital?

Pantera Capital aims to acquire SOL tokens at $59.95 per token, which is 57% lower than the current market value of $142 per token.

How many SOL tokens does FTX hold?

FTX holds approximately 41.1 million SOL tokens, valued at $5.4 billion, which accounts for about 10% of the total Solana token supply.

What kind of performance has SOL token shown recently?

SOL token has experienced a 2.51% increase in the past 24 hours and substantial gains of over 10.5% and 49.7% on the weekly and monthly charts respectively, driven by increased memecoin trading activity.