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Pantera Capital to Buy $250 Million in Solana From FTX: Price Impact

2 mins
Updated by Ali Martinez
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In Brief

  • Crypto asset manager Pantera Capital will buy Solana tokens from the FTX exchange, a transaction with notable implications for SOL.
  • The company will allow investors in the Pantera Solana Fund to raise the necessary capital and buy Solana at 39% below its average.
  • Crypto analysts forecast that the purchase could cause Solana to beat the $142 mark, signaling a bullish trend that could escalate.
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Pantera Capital, a leading crypto-focused asset manager with assets worth $5.2 billion, is on a strategic path to buy $250 million worth of Solana tokens. 

This significant acquisition is sourced from the assets of the now-defunct digital asset exchange, FTX, marking a noteworthy pivot in the industry. Pantera’s initiative comes when the market is ripe with opportunities, seizing deeply discounted tokens that promise a considerable return on investment.

Pantera Capital to Buy Millions in Solana Tokens

The firm has initiated the Pantera Solana Fund, targeting large investors to rally the required capital. According to marketing documents disclosed in February, this fund offers an “opportunity” to purchase Solana tokens at an attractive discount. 

Prospective investors are enticed to buy Solana at 39% below its 30-day average price, pegging the purchase at a compelling $59.95. However, this opportunity comes with a commitment. Indeed, investors are bound to a vesting period extending up to four years. This strategic move reflects the fund’s long-term confidence in Solana’s potential.

This investment strategy is a testament to Pantera Capital’s analytical acumen in identifying and capitalizing on market inefficiencies. By acquiring a substantial amount of SOL tokens at a discounted rate, Pantera positions itself and its investors for substantial gains, contingent on the market’s recovery and Solana’s performance.

Read more: Solana (SOL) Price Prediction 2024 / 2025 / 2030

Crypto analysts have weighed in on the potential implications of this large-scale purchase. A notable commentary from the analyst known as Skew highlights the critical point at which Solana finds itself

Skew remarked on the importance of Solana’s ability to surpass the $142 mark. This move would signal a bullish trend. It could also catapult SOL’s value to new heights, potentially reaching as high as $191. 

“HTF inflection point for HTF trend & confirmation for giga uptrend signal. Clear and flip $142 would be very bullish, aka HH above $142. The next HL would be a gift to bid after that confirmation,” Skew said

Solana (SOL) Price Performance
Solana (SOL) Price Performance. Source: TradingView

This analysis underscores the high-stakes scenario that Pantera Capital is navigating. It suggests a calculated bet on Solana’s market resilience and growth trajectory. Pantera’s initiative could set a precedent for how distressed assets are viewed and capitalized upon in the cryptocurrency market.

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David Thomas
David Thomas graduated from the University of Kwa-Zulu Natal in Durban, South Africa, with an Honors degree in electronic engineering. He worked as an engineer for eight years, developing software for industrial processes at South African automation specialist Autotronix (Pty) Ltd., mining control systems for AngloGold Ashanti, and consumer products at Inhep Digital Security, a domestic security company wholly owned by Swedish conglomerate Assa Abloy. He has experience writing software in C,...
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