Summary
Pantera Capital’s crypto fund grew by 66% in Q1, largely due to a shift in investment focus towards Solana and other altcoins. The firm reduced exposure to Bitcoin and Ethereum. Solana’s price surged by 99% in Q1, boosting Pantera’s fund value to $300 million. Despite some network issues, Solana has seen significant growth in decentralized exchange volume and project funding. Pantera’s successful investment in Solana was aided by acquiring tokens at a discount from FTX exchange.
Key Points
1. Pantera Capital reported a 66% growth in its crypto fund during the first quarter of the year.
2. The growth in Pantera’s Liquid Token Fund coincided with Solana’s performance, which saw a 99% price increase in Q1.
3. Pantera Capital strategically shifted its investment focus to altcoins like Solana, Ribbon Finance, Aevo, and Stacks, reducing exposure to Bitcoin and Ethereum.