Pantera Capital’s Liquid Token Fund Soars 66% in Q1 2024 Despite Bitcoin and Ethereum Sell-Off
In the first quarter of 2024, Pantera Capital's Liquid Token Fund achieved a remarkable 66% gain, as reported by Bloomberg.
This impressive growth was primarily fueled by investments in digital assets, notably Solana (SOL).
Solana’s value nearly doubled in recent months, briefly surpassing $200. Pantera’s strategic initiative to purchase discounted Solana tokens from FTX’s bankrupt estate, amounting to $250 million, significantly contributed to this growth.
As of now, Solana is valued at approximately $179, reflecting a 2.3% increase in the past 24 hours, securing its position as the fifth-largest cryptocurrency by market capitalization.
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Additionally, profits from smaller-cap cryptocurrencies and DeFi tokens such as Ribbon Finance (RBN), Aevo, and Stacks (STX) also bolstered the Liquid Token Fund’s performance. RBN surged by over 315% year-to-date, Aevo by nearly 200% in three months, and STX witnessed growth of more than 110% in 2024.
However, Pantera’s fund reduced its positions in Bitcoin and Ethereum-linked tokens during the first quarter. The decision was influenced by factors like the low chances of approval for a spot Ether exchange-traded fund (ETF) in the United States.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
