Pantera Capital's Liquid Token Fund, which holds assets valued at approximately $300 million, achieved a 66% increase in the first quarter. This growth was primarily a result of investments in cryptocurrencies like Solana, as the fund lowered its positions in Bitcoin and Ethereum-related assets. Altcoins such as RBN, Aevo, and STX also contributed to the fund's strong performance during this period.

Bitcoin experienced a 67% surge in value during the same quarter, reaching a peak of $73,798 in mid-March before slightly declining. In contrast, Solana nearly doubled in value, with Bitcoin and Solana priced at $67,540 and $174, respectively.

Pantera Capital had previously focused on Bitcoin investments until January but began reducing its Bitcoin holdings monthly in anticipation of a broader bull market. The fund diversified its portfolio by investing in other popular tokens. Furthermore, the fund decreased investments in Ethereum-based tokens due to issues like reduced expectations for the U.S. approval of spot-Ether exchange-traded funds (ETFs).

With $5.2 billion in funds under management, Pantera Capital has been active in the cryptocurrency market since 2013, providing various investment opportunities. Recently, the firm acquired a significant portion of FTX's $1.9 billion Solana holdings at a discounted price.

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