According to TechFlow, on September 9, The Block reported that according to multiple sources, several well-known cryptocurrency investment funds including Pantera Capital, ParaFi Capital, Theia Blockchain, Modular and Syncrac have recently purchased a large number of Metaplex (MPLX) tokens from Wave Digital Assets. These tokens were originally held by FTX's bankrupt assets. According to people familiar with the matter, FTX assets initially held 72.6 million MPLX tokens. In the past five months, 62.6 million of the unlocked tokens have been sold through over-the-counter transactions. Last month, another 2.5 million were transferred out of the FTX wallet, and only 7.5 million are currently available for sale. These tokens will be unlocked on September 19.
James Ho, co-founder and managing partner of Modular Capital, confirmed that they purchased about 700,000 MPLX at an average price of $0.21 in April 2024, which was about 25-30% lower than the market price at the time. Ryan Watkin, co-founder of Syncracy Capital, said that they purchased $1.4 million worth of MPLX at $0.2 during the same period, a discount of about 40%. Cosmo Jiang, portfolio manager at Pantera Capital, confirmed that they hold MPLX tokens, saying that this is in line with the company's long-term investment strategy of focusing on high-quality protocols with product-market fit and value accumulation potential. Josh Solesbury, an investor at ParaFi Capital, also confirmed their investment, but did not disclose specific purchase details.
