• Pantera Capital has bought extra Solana (SOL) from the FTX Chapter Basis.
• FTX is auctioning SOL and extra tokens might be offered to the successful bidder.

In keeping with a report from Bloomberg, Pantera Capital has acquired an extra great amount of Solana (SOL) tokens at a reduction from the FTX Chapter Basis.

The $5.2 billion crypto enterprise capital agency has secured a brand new stash of locked SOL after securing one of many winners within the ongoing Solana token public sale.

Pantera, in collaboration with cryptocurrency agency Galaxy Digital, raised extra altcoins in final month's $1.9 billion SOL public sale. In keeping with a report at the moment, the corporate bought an extra token from the two,000 SOL FTX offered this week.

FTX Actual Property holds greater than 41 million locked SOLs price greater than $6 billion, and the chapter property's inexperienced gentle for the sale has garnered numerous consideration from institutional buyers. Pantera is reportedly contemplating an extra acquisition of his SOL and has earmarked as much as $250 million for that objective.

Solana (SOL) value

Solana (SOL) fell under $10 following FTX's inner chapter and chapter submitting in November 2022.

The cryptocurrency skyrocketed into 2023, outperforming its friends after former FTX CEO Sam Bankman Fried was criminally charged and convicted. Bankman Freed was sentenced to 25 years in jail in March.

SOL has additionally benefited from the explosion of meme cash on blockchain networks, with Bonk and Dogwifhat tokens gaining prominence from late 2023 to early this yr.

Nevertheless, Solana's value has fallen from its multi-year excessive of greater than $200 in March. It’s at the moment buying and selling round $142, down 23% previously 30 days and a pair of% previously 24 hours.

SOL value might retreat to current assist close to $125 underneath supply-side stress, however a bullish reversal might push it in direction of current peaks.