The ongoing liquidation of Solana tokens by the FTX Estate continues, with significant investment firms like Pantera taking part in the latest batch. Recently, another 1.8 million SOL coins from the FTX Derivatives Exchange estate were sold to Galaxy Trading and Pantera Capital.

Investors in Solana received a 24% discount in the recent FTX auction, where each token was sold for a price ranging between $95 and $100. This sale added up to a total auction value of $232 million, following bids that ranged from $85 to $110 initially, with successful bids starting at $95.

Despite a bid hiccup on April 25 due to Know-Your-Customer (KYC) procedures, the transaction was finalized by April 30, marking the second round of locked Solana sales by the FTX estate in recent weeks. Earlier, around 30 million locked-up SOL coins were liquidated by FTX's bankruptcy administrators, fetching $1.9 billion for the estate, attracting interest from major players like Galaxy Trading and Pantera Capital.

The sales offered investors a significant discount compared to SOL's market price, which had reached $172. Currently, Solana is trading at $123.99, showing a 24-hour price drop of 7.89%. Buyers in the recent sales received a smaller discount compared to the initial batch, with a 24% discount for $95 purchases and around 15% for $100 purchases.

Pantera Capital emerged as a prominent backer in the FTX-Solana auctions, showcasing its interest in digital assets with long-term growth potential. With ongoing auctions, FTX is expected to quickly liquidate its $2.6 billion Solana holdings, potentially alleviating sell-off concerns in the Solana ecosystem and aiding in its long-term recovery from a prolonged bearish trend.