An anonymous source revealed that administrators overseeing the indebtedness of the FTX crypto exchange auctioned off Solana tokens this week, with an estimated 2000 tokens sold. The source disclosed this information under anonymity as sales details are not yet public.

Representatives from FTX estate and Pantera were unavailable for immediate comment on the purchase. FTX previously sold two-thirds of its Solana tokens, valued at $2.6 billion, in a discounted deal involving Pantera and Galaxy Digital.

Approximately 41 million Solana Tokens held by FTX are currently locked under a vesting period agreement, meaning they cannot be traded on the market but will be available for sale within four years. Sources familiar with the matter indicated that the tokens were sold at a higher price than the $60 price achieved in the previous auction, with two more auctions planned.

Despite Solana's tumultuous history, including a 94% drop in 2022 when FTX sought protection from bankruptcy, its market price has shown remarkable resilience, trading around $146 amid current market trends. The auctions are part of efforts to manage asset liquidation by the bankrupt FTX estate, with a significant portion of Solana tokens already auctioned off.

Pantera Capital's participation in recent auctions reflects its investment strategy in digital assets, with plans to capitalize on future token appreciation. The systematic release of locked Solana tokens aims to prevent market saturation and ensure a smooth introduction of tokens into the market. Solana, known for its inflationary nature and lack of an upper limit on total tokens, continues to garner attention for its blockchain technology potential amidst market fluctuations.