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Pantera Capital, a pioneering asset manager in blockchain and digital currencies, has reported a remarkable 66% gain for its Liquid Token Fund in the first quarter of 2024. This achievement is propelled by investments in Solana and emerging tokens like Ribbon Finance, Aevo, and Stacks. Interestingly, the firm has strategically reduced its investments in Bitcoin and Ethereum-based tokens amidst diminishing prospects for ETF approval in May.
The successful shift away from Bitcoin was notable, with Pantera consistently decreasing its significant holdings every month this year. Instead, the fund favored smaller-cap tokens, showcasing a strategic pivot away from more established cryptocurrencies. This approach has matched Bitcoin’s 66% growth year-to-date and outperformed Ethereum and the DeFi index’s advancements.
Adding to its bold moves, Pantera had earlier earmarked $250 million to acquire Solana tokens from the FTX bankruptcy estate, navigating through legal complexities regarding token ownership. This maneuver underscores Pantera’s commitment to seizing unique opportunities within the cryptocurrency landscape
