FTX Estate – acting as asset recovery for the failed exchange's creditors – is completing a second locked sale of Solana with bids around $100.

SOL 1.8 million ($232 million) is being sold in an auction that took place over the past few weeks, and bidding was finalized on April 25.

Bids for the locked Solana ranged from $85 to $110, and bids of $95 and up were accepted. $95 represents a 26% decrease from the current SOL price, while $110 represents a 15% decrease.

Galaxy Trading appears to be raising money from investors to bid for a portion of the locked Solana tokens from FTX Estate. With a much higher minimum investment in this round, the company wants to get commitments of at least $5 million from investors.

Pantera Capital acquired more Solana locked in the latest auction, and the tokens are subject to a four-year vesting schedule.

The next auction will begin on May 1, according to Mike Cagney, CEO of Fig Markets – which created a *Special Purpose Vehicle (SPV) to conduct locked SOL auctions soon, for non-US investors and US accredited investors.

Before the recent auction, FTX Estate sold large amounts of locked SOL tokens in March for $64 each to Galaxy Trading and Pantera. The size of the sale is about two-thirds of the total 41 million Solana that FTX Estate owns.

*Special Purpose Vehicle (SPV) is a separate type of legal structure created for a specific purpose, usually to carry out a specific project or financial transaction without affecting business operations other of the parent company.

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