Pantera Capital’s Liquid Token Fund reportedly posted a 66% return within the first quarter of 2024, pushed by investments in crypto tokens resembling Solana (SOL).
Based on a shareholder letter reviewed by Bloomberg, the fund’s sturdy efficiency from January to March was additionally propelled by property resembling Ribbon Finance (RBN) and Stacks (STX), whereas publicity to tokens tied to Bitcoin (BTC) and Ether (ETH) decreased through the interval.
Portfolio supervisor Cosmo Jiang instructed Bloomberg the fund has decreased its Bitcoin holdings by greater than half because the starting of the 12 months. “We’d been fairly heavy in Bitcoin till the beginning of the 12 months, and I actually like every month we’ve decreased that Bitcoin place meaningfully,” he stated.
Information from TradingView reveals the RBN token rising 400.43% to this point this 12 months, whereas beneficial properties for SOL stand at 69.88%, outperforming Bitcoin’s 62.59% appreaciation in 2024.
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Launched in November 2017, the Pantera Liquid Token Fund holds a pool of 10-20 liquid tokens. The fund is designed for accredited traders prepared to commit a minimal of $100,000 and primarily targets decentralized finance (DeFi) tokens.
Pantera Capital is a $5.2 billion asset supervisor and an early investor within the crypto house. The agency has lately raised round $250 million to purchase SOL tokens from former crypto alternate FTX. The tokens had been reportedly purchased for $64, about 60% below the current market price.
SOL’s value efficiency has been attributed to an increase in its blockchain market dominance and the memecoins frenzy. On April 3, memecoins like Dogwifhat and Bonk continued to rise in popularity, together with the lately launched Cat within the Canine World and E book of Meme. Based on a CoinShares report, institutional traders poured nearly $25 million into SOL-based funding funds in March, supporting the token’s value rise.
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