Pantera Capital Acquires Additional Solana Tokens from FTX Auction
The recent auction saw SOL tokens being sold at a higher price compared to the previous auction, where tokens fetched approximately $60 each.
Pantera Capital, a prominent cryptocurrency investment firm, has secured another batch of Solana tokens from a recent auction conducted by the administrators overseeing the bankruptcy of the former FTX cryptocurrency exchange. According to a source familiar with the sale, approximately 2,000 SOL tokens were sold this week in the auction, although official sales details have not been publicly disclosed.
The winning bids from Pantera Capital and other participants come on the heels of a prior auction earlier this month, during which the FTX estate offloaded a significant portion of its Solana token reserves at a discounted rate. Pantera Capital, alongside Galaxy Digital, reportedly participated in the previous auction, acquiring a substantial share of the available tokens.
The Solana tokens being auctioned off are subject to a predetermined vesting period, restricting their immediate availability for trading in the market. Instead, they will gradually become available for sale over a four-year period, as outlined in the pre-agreed terms.
Notably, the recent auction saw SOL tokens being sold at a higher price compared to the previous auction, where tokens fetched approximately $60 each. Despite this uptick in price, Solana's native token, SOL, remained relatively stable at around $145 on Thursday, reflecting its resilience amidst market fluctuations. SOL has witnessed a remarkable surge of over 1,300% since the beginning of last year, underscoring its appeal to investors despite recent volatility.
The ongoing sale of Solana tokens by the FTX estate signals continued interest from investors in acquiring assets associated with the Solana ecosystem. With more auctions anticipated in the future, the Solana community and cryptocurrency enthusiasts alike are keenly observing developments surrounding the sale of these tokens amidst the backdrop of FTX's bankruptcy proceedings.
