Pantera Capital, a crypto-focused asset manager, is in the process of raising funds to purchase discounted Solana tokens from the bankrupt FTX exchange, as reported by Bloomberg on March 7. The newly established Pantera Solana Fund aims to acquire up to $250 million worth of SOL tokens from the distressed FTX estate, offering investors an opportunity to buy SOL at a discounted rate of approximately 39%, pegged at around $59.95 based on a 30-day average price.

Investors interested in participating in this venture are required to commit to holding their assets for a period of up to four years. During this time, Pantera Capital plans to implement a 0.75% management fee and a 10% performance fee to manage the fund effectively and maximize returns for investors. While the funding round was initially set to conclude by the end of February, Pantera has successfully secured a portion of the funds, the exact amount of which remains undisclosed, as per a confidential source cited by Bloomberg.

This strategic move not only allows FTX liquidators to strengthen their financial position but also ensures minimal impact on SOL's market price. At the time of FTX's collapse, Solana constituted 34.2% of its holdings, with Bitcoin and Ethereum collectively making up 22.1% of the portfolio, underscoring the significance of Solana within the exchange's asset composition.

## Solana's Price Surge and Market Momentum
Between March 6 and March 7, Solana witnessed a notable surge in value, with its native SOL token currently trading around $145, reflecting an approximate 15% increase based on data from CryptoSlate. This upward trajectory is part of a remarkable run that has seen SOL appreciate by 360% over the past year, driven largely by the positive market sentiment surrounding the introduction of spot Bitcoin exchange-traded funds (ETFs) in the US, which propelled BTC to new all-time highs.

The bullish momentum surrounding Solana has not only attracted new investors to the ecosystem but has also contributed to increased liquidity and growing interest in its blockchain technology. Furthermore, decentralized finance (DeFi) activities on the Solana blockchain are experiencing a resurgence, with the total value of assets locked on the network approaching $3 billion. This milestone represents the highest level since May 2022, indicating a strong resurgence in DeFi engagement and utilization within the Solana ecosystem.