Following FTX's announcement, revealing plans to auction its locked Solana (SOL) stores due to an ongoing internal crisis that saw it incur debts, several investors within the crypto space have set their eyes on the sell-off spree in a bid to cash out of the asset's liquidation.
Among top crypto firms who have followed the auction sales, Pantera Capital, a U.S. investment firm with a keen focus on blockchain technology, seems to top the list following its recent acquisition after partaking in the previous batch of coin sales.
According to an anonymous source with first-hand information about the sales, Pantera Capital had purchased another 2,000 SOL after completing an earlier transaction worth about $250 million.
Pantera Capital Doing Good Business Despite The Auction Price Increment
Reportedly, the price of Solana tokens has risen compared to earlier sell-offs, underscoring the potential for the asset's price appreciation considering its commendable market actions.
The price per token was undisclosed for this auction. However, it would obviously exceed the previous $64 average selling price.
Meanwhile, Per Solana's (SOL) price statistics on CoinMarketCap, the coin is changing hands at about $142.8, having seen a 4.82% upswing in the past 24 hours.
Across most crypto analysis platforms, Solana remains one of the most talked about crypto sensations with impressive market actions. Its exponential growth, beginning in the late quarters of 2023, saw it ascend and rank among the top five altcoins, with a market capitalization of over $63 billion.
Pantera Capital’s committed involvement in Solana's auction sales underscored the platform's stance on digital assets investment as a pathway to attaining sustainability among its peers.
By acquiring these tokens at a discounted price, Pantera Capital and other investment outlets with similar interests have placed themselves in a prime position to benefit from the future appreciation of SOL.
Presently, the date of the next auction is not known yet. However, it is likely to happen soon, implying the availability of additional tokens for interested bidders