HomeNewsReport: Panther Initiates Fundraising for $250 Million Solana (SOL) Acquisition from FTX

Report: Panther Initiates Fundraising for $250 Million Solana (SOL) Acquisition from FTX

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  • Pantera Capital invests in Solana, reflecting confidence in its future with $250 million purchase despite market turbulence.
  • 4-year vesting period for Solana tokens acquired by Pantera Capital promotes stability and sustained growth.

Pantera Capital, a prominent manager of cryptocurrency assets, is actively seeking funds for a major purchase of Solana (SOL) from the bankrupt FTX crypto exchange. The plan to allocate $250 million towards SOL, securing it at a 39% discount from its 30-day average price, showcases Pantera’s enduring belief in the growth prospects of Solana.

This dedication is manifested in a stipulation that requires investors to retain their digital assets for at least four years, underscoring an investment approach focused on confidence in the resurgence and ongoing expansion of Solana.

Market confidence

Following the announcement, Solana’s price surged by 13% in just one night, signaling the market’s favorable reception. Pantera Capital’s decision to make a substantial long-term investment in Solana serves as a powerful message to the investment community, highlighting Solana’s foundational robustness and future prospects.

Stability and growth

Implementing a four-year lock-up period for Solana tokens contributes to the ecosystem’s stability. This strategy prevents a sudden influx of $SOL into the market, reducing potential price fluctuations due to an abundance of supply. Moreover, it emphasizes a dedication to nurturing steady and long-term development over immediate profit.

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628