Pantera Eyes $250 Million Solana Tokens Buy Amid SOL's Strong Market Performance

By: Eva Baxter

Pantera Capital, a crypto-focused asset management firm, is reportedly raising funds in a bid to acquire $250 million worth of Solana tokens at a discounted rate, a move strategically designed to avoid undue influence on the market price of Solana's native token, SOL. The tokens are part of assets held by the now-bankrupt FTX exchange whose liquidation has been in progress.

Simultaneously, Solana's SOL token has seen robust market activity and a significant uptick in value, with prices soaring nearly 600% over the past year. SOL has gradually regained its two-year peak, crucially powered by an increase in meme coin trading volumes within its ecosystem.

Amid the burgeoning interest in Solana, DeFi activities on Solana's blockchain are also seeing a surge with more investors exploring its potential and deploying resources. Additionally, the potential listing of Ether and Solana staking Exchange Traded Products (ETPs) on the SIX Swiss Exchange also points towards a broader market access and optimism around staking rewards in the Solana network.

Meanwhile, Solana-based DeFi protocol Kamino is set to airdrop its KMNO token in April, and over 200,000 wallets are eligible for the SAGA token claim across other chains as well following a play-to-airdrop campaign. As the market performance and growth patterns of Solana intensify, experts predict SOL's volume and value might continue to surge in the upcoming months.