Someone’s Trying To Buy 1% of Solana’s Circulating Supply From FTX (And the Market Is Loving It!)
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Notion is a humorous factor…
Like — if one billionaire sells their dwelling to a different — is that:
A) A constructive reflection on the neighborhood (a billionaire desires to purchase right here!)
— or —
B) A unfavourable reflection on the neighborhood (a billionaire desires to promote right here!)
It’s actually all about notion.
Identical factor goes for personal gross sales of cryptocurrency — just like the one rumored to be occurring between FTX and a crypto administration agency, Pantera Capital.
On this case, it appears it’s being seen as a great factor.
Pantera desires to purchase $250M price of SOL, from FTX’s $5.8B bag — and the rumored buy has helped to push SOL’s value up 13%, to ~$148, over the previous 24 hrs.
However right here’s the twist:
Pantera is pitching to purchase $250M price of SOL, not at $148 per token — however at $59.95.
(That’s a helluva low cost!)
If this deal have been to undergo, Pantera must maintain that SOL for a minimum of 4 years.
☝️ And that proper there, is why the market is LOVING this information:
Pantera desires to purchase up 1% of Solana’s circulating provide, and maintain it until 2028.
