Pantera Capital crypto fund gains 66% with Solana, altcoins 

Pantera Capital crypto fund gains 66% with Solana, altcoins 

Pantera Capital’s Liquid Token Fund, with assets totaling around $300 million, reported a 66% gain in the first quarter.

This was largely driven by investments in cryptocurrencies like Solana while reducing its stakes in Bitcoin and Ethereum-related assets.

According to Bloomberg, altcoins such as RBN, Aevo, and STX also contributed to this impressive first-quarter performance.

During the same period, Bitcoin saw a 67% increase, hitting a peak of $73,798 by mid-March, only to experience a slight decline thereafter.

In contrast, Solana’s value nearly doubled. Prices for Bitcoin and Solana were recorded at $67,540 and $174, respectively, at last check on Saturday, April 6.

You might also like: Jury finds Terraform Labs, Do Kwon guilty on fraud charges

Pantera mostly focused on Bitcoin investments until January.

However, anticipating a wider bull market, the fund continuously decreased its Bitcoin position monthly and diversified its portfolio with other popular tokens.

The fund also scaled back on investments in Ethereum-based tokens, influenced by challenges including diminished expectations for the U.S. approval of spot-Ether exchange-traded funds (ETFs).

With $5.2 billion under management, Pantera Capital has been an active player in the cryptocurrency market since 2013, offering various investment products.

Earlier this week, the firm bought a large portion of FTX’s $1.9 billion worth of Solana holdings at a discount price.

Read more: Uniswap all-time trading volume hits $2t

Source

Поделиться

Related Posts

Добавить комментарий