FTX Estate Ready to Sell Solana Lock for $7.5 Billion

FTX real estate just sold for $41 million. The $7.5 billion sale price of locked Solana tokens attracted the attention of investors. Demand for the sale is strong, and many companies are interested in purchasing tokens from the property, people familiar with the matter said.

Neptune Digital leads the way

Neptune Digital became the first company to publicly announce the acquisition of Solana locks from FTX Assets. The company announced that it will purchase 26,964 SOLs at a price of $64 per token. 20% of all tokens received will be locked in March 2025, and additional tokens will be locked every month until 2028. Neptune Digital’s move is the beginning of a push by many companies looking to invest in Solana tokens.

Galaxy Trading is one of the sources used for investors to bid for some closed Solana tokens. Investors can participate for $64 per token and a 1% administrative fee. BitGo will be the token manager, and staking rewards will be distributed based on purchase volume, but the rewards will be locked to the underlying token.

However, as FTX Legacy said on its dividend last time, there are reports that some investors are going out of business with a 13% drop in dividends. However, interest in purchasing unlocked Solana tokens remains high as investors look at the development potential of the token.

Interest received from others

FTX Co. Other investment companies such as Equipment’s Solana expressed interest in purchasing their products. Pantera, for example, announced that it was seeking money to create a fund that would purchase up to $250 million in tokens. The fund will charge a 0.75% management fee and a 10% commission. Another fund, Phoenix, is also considering raising money for a similar project, but reports say the bid has failed.

FalconX also announced that it will raise funds through a massive auction of unlocked Solana tokens. In addition, Galaxy Asset Management sold 42 more tokens, mostly Solana and Ethereum, for a total value of approximately $211 million. These tokens include Gatetoken, Atlas, Shadow Token, as well as Bitfinex’s token and sed leo.

FTX’sSolana Token sale shows potential for growth

FTX Asset Group’s sale of unlocked Solana tokens benefits investors; Neptune Digital was the first buyer, and Galaxy Business was also prepared to bid. This development reflects the growing demand for Solana and demonstrates the potential for further growth in the cryptocurrency market. Interest from other investment firms reflects widespread recognition of Solana’s value and appeal to a broader range of investors.

The success of the sale has a positive impact on Solana’s reputation and may attract more investors willing to invest in its potential. Increased demand could increase Solana’s value, benefiting existing owners and attracting new investors looking to enter the market. Additionally, interest from investment firms such as Neptune Digital and Galaxy Business could provide Solana with additional credibility and legitimacy in the eyes of investors who could provide rapid growth and integration with traditional finance.

Overall, FTX Asset Group’s Solana token sale is the most significant sale for cryptocurrencies and a sign of things to come.