Pantera Capital’s crypto fund surges 66% amid market optimism

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Pantera Capital’s Liquid Token Fund reduced vulnerability to Bitcoin and Ether successful the archetypal 4th of 2024 portion expanding allocations to DeFi tokens.

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Pantera Capital’s crypto money  surges 66% amid marketplace  optimism

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Pantera Capital’s Liquid Token Fund reportedly posted a 66% instrumentality successful the archetypal 4th of 2024, driven by investments successful crypto tokens specified arsenic Solana (SOL).

According to a shareholder missive reviewed by Bloomberg, the fund’s beardown show from January to March was besides propelled by assets specified arsenic Ribbon Finance (RBN) and Stacks (STX), portion vulnerability to tokens tied to Bitcoin (BTC) and Ether (ETH) decreased during the period.

Portfolio manager Cosmo Jiang told Bloomberg the money has reduced its Bitcoin holdings by much than fractional since the opening of the year. “We’d been beauteous dense successful Bitcoin until the commencement of the year, and I truly similar each period we’ve decreased that Bitcoin presumption meaningfully,” helium said.

Data from TradingView shows the RBN token rising 400.43% truthful acold this year, portion gains for SOL basal astatine 69.88%, outperforming Bitcoin's 62.59% appreaciation successful 2024. 

SOL token show year-to-date. Source: TradingView

Related: FTX laminitis SBF asks for a 6.5-year sentence, tells situation guards to put successful Solana

Launched successful November 2017, the Pantera Liquid Token Fund holds a excavation of 10-20 liquid tokens. The money is designed for accredited investors consenting to perpetrate a minimum of $100,000 and chiefly targets decentralized concern (DeFi) tokens.

Pantera Capital is simply a $5.2 cardinal plus manager and an aboriginal capitalist successful the crypto space. The steadfast has precocious raised astir $250 cardinal to bargain SOL tokens from erstwhile crypto speech FTX. The tokens were reportedly purchased for $64, astir 60% beneath the existent marketplace price.

SOL’s terms show has been attributed to a emergence successful its blockchain marketplace dominance and the memecoins frenzy. On April 3, memecoins similar Dogwifhat and Bonk continued to emergence successful popularity, on with the precocious launched Cat successful the Dogs World and Book of Meme. According to a CoinShares report, organization investors poured astir $25 cardinal into SOL-based concern funds successful March, supporting the token’s terms rise.

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