Someone’s Trying To Buy 1% of Solana’s Circulating Supply From FTX (And the Market Is Loving It!)

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Notion is a humorous factor…

Like — if one billionaire sells their dwelling to a different — is that:

A) A optimistic reflection on the neighborhood (a billionaire needs to purchase right here!)— or —B) A detrimental reflection on the neighborhood (a billionaire needs to promote right here!)

It’s actually all about notion.

Identical factor goes for personal gross sales of cryptocurrency — just like the one rumored to be occurring between FTX and a crypto administration agency, Pantera Capital.

On this case, it appears it’s being seen as a great factor.

Pantera needs to purchase $250M price of SOL, from FTX’s $5.8B bag — and the rumored buy has helped to push SOL’s value up 13%, to ~$148, over the previous 24 hrs.

However right here’s the twist:

Pantera is pitching to purchase $250M price of SOL, not at $148 per token — however at $59.95.

(That’s a helluva low cost!)

If this deal had been to undergo, Pantera must maintain that SOL for a minimum of 4 years.

☝️ And that proper there, is why the market is LOVING this information:

Pantera needs to purchase up 1% of Solana’s circulating provide, and maintain it until 2028.