Fri, April 26, 2024 at 18:46

• 

  Joy

  • Hey there, Annie!

  • Have you heard about the latest news on Pantera Capital?

  • They've reportedly won a bid to purchase discounted Solana (SOL) from the bankrupt crypto exchange platform FTX.🎉

  • 
• Annie

  • Really?

  • That's interesting.

  • How many SOL tokens did they buy?

  
• 

  Joy

  • Well, the exact details haven't been made public yet, but it's said that 2,000 SOL tokens were sold this week.

  • Earlier in April, FTX sold about 66% of its $2.6 billion trove of SOL at a discounted price of about $60.

• Annie

  • Wow, that's a lot of SOL!😲 But why did FTX sell them at a discounted price?

  
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  • Hold on! Behold, an advertisement awaits. Legend has it that clicking on this ad will make the AI server even smarter... 😅

  
• 

  Joy

  • Good question!

  • FTX is currently bankrupt, so they're probably trying to liquidate their assets as quickly as possible to pay off their debts.

  • 
• Annie

  • I see... And how much is SOL trading for now?

  
• 

  Joy

  • As of now, SOL is trading for $142.

  • It's actually decreased by 1.85% during the last 24 hours.

  • Back on November 1st, it was trading for just $41.40.

• Annie

  • So Pantera Capital bought them at a cheaper price then.🤔 But when can they start using these tokens?

  
• 

  Joy

  • Well, the Solana sold by FTX is locked by an agreed-upon vesting period and will have to be held for at least four years.

  • So, Pantera will have to wait a bit before they can use them.

• Annie

  • Four years?

  • That's quite a long time.

  • But I guess it's a good investment if the price of SOL continues to rise.📈

  
• 

  Joy

  • Exactly!

  • And remember, back in March, Pantera announced that it was going to fundraise $250 million to purchase Solana from the failed digital asset exchange.

  • They originally planned to have the money by February but couldn't meet that deadline.

• Annie

  • So, is this news good or bad for the market?

  
• 

  Joy

  • Well, it's certainly good news for Pantera Capital as they've managed to buy SOL at a discounted price.

  • As for the market, it could potentially boost confidence among investors knowing that big firms are still willing to invest in crypto, even from bankrupt exchanges.🚀

  • To sum up, this article is considered a 😍Bullish for investors!!