Selling Pressure Danger in Solana (SOL)! Solana Sold at a Low Price in FTX’s Auction! Here are the Details

The assets of bankrupt cryptocurrency exchange FTX have completed the sale of $2.6 billion worth of discounted Solana (SOL) tokens, with leading buyers including Figure Markets and Pantera Capital.

Pantera and Figure Receive Latest Discounted Solana Tokens from FTX Auction

Figure Markets reportedly paid approximately $80 million for a block of 800,000 SOL tokens, which equates to approximately $102 per token.

This price represents a significant discount compared to the current market price of approximately $166 per token. This discount led to a 5.6% drop in Solana’s price in the morning.

Pantera Capital also participated in the recent auction, but details about the price they paid were not disclosed. Both FTX ownership and the purchasing companies have not yet responded to requests for comment on the transactions.

FTX, run by convicted fraudster Sam Bankman-Fried, owes more than two million customers and over $11 billion to other creditors.

Pantera Capital, which previously tried to raise $250 million to buy Solana tokens from FTX, was also one of the winning bidders in an earlier auction held in April.

The firm’s continued interest and investment underscores the value and potential they see in Solana despite ongoing turbulence in the market.

*This is not investment advice.

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