Multicoin's DRIFT Position has already made a floating profit of 455%, and previously stated a target price of $3.58.

BlockBeats news, on November 9th, according to market data, as of press time, DRIFT is priced at $2.31, with a 24-hour increase of 345.8%. The Market Cap is temporarily reported at $550 million, and the FDV is temporarily reported at $2.223 billion. Previously, Multicoin Capital, the lead investor in Drift’s $25 million Series B financing, stated in a blog post on September 10th that they have accumulated a large amount of DRIFT positions in their funds, including the Liquidity Fund and the Venture Capital Fund. According to the valuation framework and market assumptions outlined in their report, Multicoin Capital believes that a fair valuation for DRIFT is $3.58. If the average price of Multicoin Position is based on DRIFT’s $0.416 position on September 8th, then the current DRIFT Position has a floating profit of 455% (it is currently unknown whether it has been sold or not).