Pantera Capital succeeded to acquire 2,000 Solana (SOL) tokens from the FTX bankruptcy estate through a winning bid during the most recent auction. The cryptocurrencycurrency investment company is still heavily involved in the ongoing FTX exchange liquidation process. This purchase is a component of the multiple planned auctions that will oversee FTX’s asset disposal.
The reason for this auction series is the bankruptcy procedures that followed FTX’s collapse in November 2022, which was caused by significant financial wrongdoing on the part of its executives. An estimated $2.6 billion worth of Solana tokens will be sold as part of the liquidation plan, with significant shares acquired by Pantera and other companies such as Galaxy Digital in previous transactions.
Notwithstanding Solana’s prior connections to FTX, the most recent sale brought in a price per token that was higher than the rate of the previous auction, at almost $60. As of right now, market assessments value these tokens at approximately $288,000, which indicates a stable pricing in light of the volatile market.
Pantera’s dedication to investing in blockchain technologies that offer long-term viability is demonstrated by its strategy of acquiring undervalued digital assets. This approach highlights faith in the blockchain’s core technology while also taking advantage of Solana’s possible market rebound.
Even with the recent market dip, Solana is still worth a lot of money; it is presently trading at $144, down 1.55% over the past 24 hours. More tokens will be available for purchase at the next auction.
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