Solana’s price surged by more than 15% to $148 on Thursday following a major announcement in the crypto market. Pantera Capital, a multi-billion dollar fund specializing in blockchain technology, revealed its plan to acquire up to $250 million worth of SOL tokens.
The company intends to purchase these tokens from the bankrupt FTX exchange at a discounted rate of almost 60 USD per coin, representing a 57% discount from current levels. FTX still holds 41 million SOL tokens, valued at approximately $5.4 billion, which make up 10% of Solana’s total coin supply.
Pantera Capital’s potential investment has generated significant interest as it could provide a lucrative opportunity for both parties involved. Additionally, FTX aims to use the funds to compensate investors impacted by the exchange’s bankruptcy.
Solana’s price evolution has been on an upward trajectory, with SOL trading close to $148 at the time of writing. The cryptocurrency has experienced a substantial increase of nearly 45% since the beginning of the year, further highlighting its strong performance in the market.