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Home»TRADING NEWS»Pantera Capital cryptocurrency fund gains 66% on Solana and altcoins
TRADING NEWS

Pantera Capital cryptocurrency fund gains 66% on Solana and altcoins

By Crypto FlexsApril 6, 20242 Mins Read
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Pantera Capital cryptocurrency fund gains 66% on Solana and altcoins
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Pantera Capital’s Liquid Token Fund, which has total assets of about $300 million, reported a 66% return in the first quarter.

This was primarily driven by investments in cryptocurrencies such as Solana and reducing stakes in Bitcoin and Ethereum-related assets.

According to Bloomberg, altcoins such as RBN, Aevo, and STX also contributed to these impressive first quarter results.

During the same period, Bitcoin rose 67%, reaching a high of $73,798 by mid-March, but has since declined slightly.

By contrast, Solana’s value has nearly doubled. The prices of Bitcoin and Solana were recorded at $67,540 and $174, respectively, at last check on Saturday, April 6.

Pantera mainly focused on Bitcoin investments until January.

However, in anticipation of a broader bull market, the fund has continued to reduce its Bitcoin position each month and diversify its portfolio with other popular tokens.

The fund also scaled back its investments in Ethereum-based tokens due to issues such as lowered expectations for U.S. approval of a cash Ethereum exchange-traded fund (ETF).

Pantera Capital, which manages $5.2 billion, has been active in the cryptocurrency market since 2013 and offers a variety of investment products.

Earlier this week, the company purchased a significant portion of FTX’s $1.9 billion Solana holdings at a discount.

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