Pantera Capital Plans $1.25 Billion Investment in Solana Tokens
Solana (https://holder.io/coins/sol/) has dropped 7% in the last 24 hours, trading near $189. Analysts remain optimistic about its long-term potential.
Pantera Capital’s $1.25B Plan
- Pantera Capital is planning to raise up to $1.25 billion to create Solana Co., a public vehicle for accumulating Solana tokens.
- The initial fundraising will be $500 million, followed by $750 million through warrants.
- Pantera has already invested $300 million into various digital asset treasury firms.
Importance of Long-Term Merit
- Pantera emphasizes that the long-term value of Solana is crucial for the success of its treasury strategy.
- The firm's portfolio currently includes eight projects, prominently featuring Solana.
- Pantera has also supported Sharps Technology, which aims to raise over $400 million for a Solana treasury strategy.
Institutional Interest Growing
- Galaxy Digital, Jump Crypto, and Multicoin Capital are reportedly collaborating on a $1 billion treasury plan focused on Solana.
- This initiative is backed by the Solana Foundation and involves acquiring a public company.
Analyst Insights
- Crypto analyst Ali Martinez maintains a target of $300 for Solana despite the recent pullback.
- He suggests buying at support levels around $176 or targeting breakout at $207.
- If Solana holds its trendline and surpasses $207, key targets are set at $250, $277, and $321.