Pantera Capital plans to spend $250 million on Solana (SOL), and analysts predict SOL's record rally of $1,000?

Pantera Capital, a well-known crypto asset manager with $5.2 billion in assets, launched a fundraiser to buy discounted Solana (SOL) tokens from F\T\X's bankruptcy estate. Dubbed the Pantera Solana Fund, the program reportedly offers investors the opportunity to purchase SOL tokens worth up to $250 million at a significant discount to F\T\X properties. It outlines the opportunity to buy SOL tokens at a price that is 39% lower than the 30-day average price or at a fixed price of $59.95.
SOL pulled up to $144.49 and then retreated, up 12.44% in 24 hours, and the Solana ecological token continued to rise, and the $SOLAMA $JUP $PENG $DUKO popularity was high. Could it be that SOL is set for a record rally?
Investors participating in this opportunity must agree to a vesting period of up to four years. This approach reportedly allows the F\T\X liquidators, led by John J. Ray III, to gradually sell SOL tokens, freeing up funds for creditors without immediately exerting downward pressure on the token price.
According to Pantera's pitch filing, F\T\X assets currently hold about 41.1 million SOL tokens, worth $5.4 billion as of Wednesday's close of trading. This is about 10% of the total supply of SOL tokens. According to its investor pitch, Pantera plans to close the fund by the end of February. Although the amount raised by the deadline has not been disclosed, people familiar with the matter confirmed that Pantera has received some of the funding.
In addition to holding a large number of SOL tokens, F\T\X and its sister company A\l\a\m\eda R\e\s\e\arch have made significant investments in startups within Solana's broader ecosystem.
According to Bloomberg, Solana Ventures, the venture capital arm of F\T\X, and Lightspeed Venture Partners jointly announced the creation of a $100 million blockchain gaming fund in November 2021.
Ultimately, given the significant spike in SOL prices over the past year, the estate administration's intention to sell these tokens provides an opportunity to raise funds to repay creditors. SOL has experienced a staggering 650% increase and is trading at almost four times the price of F\T\X in November 2022 when it faced a crisis.
SOL, the fifth-largest cryptocurrency by market capitalization, continues its significant uptrend and is currently trading at $147. In the last 24 hours alone, the token's price has risen by a massive 14%, and in 30 days, its price has soared by an impressive 56%.
Despite this upward trend, SOL is still 43% below the all-time high (ATH) of $259 set in November 2021. However, crypto analyst altcoin Sherpa believes that SOL will break the previous ATH in this market cycle, with the only uncertainty being the size of the disruption.
Altcoin Sherpa says that reaching $500 is highly likely, and a more surprising milestone like $1,000 is not entirely out of the question. The analyst further highlighted confidence in SOL's potential and said it remains one of their more important investments. Altcoin Sherpa also highlighted SOL's next important level to watch, which is $170. #山寨季开始#
(Source: Ronaldo Marquez)