Multicoin Capital 'Accumulates DRIFT in Bulk,' Betting Big on Token's Future
CryptoNewsTerminal Staff10 Sep, 2024
Multicoin Capital 'Accumulates DRIFT in Bulk,' Betting Big on Token's Future
Multicoin Capital, a prominent crypto venture capital firm, has recently made a significant investment in the DRIFT token, the governance token of Drift, a Solana-based perpetual futures trading protocol. According to Wu Blockchain, Multicoin Capital announced via its official channel that it has "accumulated DRIFT in bulk." Multicoin Capital's strong belief in DRIFT's potential is evident in the firm's valuation of the token at $3.58, which is over seven times the current market price of $0.5297. This substantial premium underscores Multicoin Capital's bullish outlook on DRIFT's long-term prospects. It is worth noting that Multicoin Capital was a major investor in DRIFT's seed round, further solidifying its commitment to the project. With Multicoin Capital's backing and the growing adoption of Drift's perpetual futures trading platform, the DRIFT token is poised for significant growth in the coming months and years. ```
