In a wave of optimism that has permeated the cryptoactive market in the last eight weeks, Solana (SOL) has stood out as a pole of attraction for institutional investors. According to recent information released by CoinShares, a digital asset manager, the market has experienced an impressive sequence of capital inflows, marking the eighth consecutive week of positive inflows.
This phenomenon has been led by Solana-related investment products, which emerge as the stars among altcoins. CoinShares, in its “Digital Asset Fund Flows” report, revealed that institutional investors are significantly increasing their allocations to crypto assets, with Solana (SOL) at the forefront.
The report details: “Digital asset investment products recorded inflows totaling US$176 million last week. This continuous flow of inflows, already lasting eight weeks, has brought the year’s accumulated inflows to US$1.32 billion.”
It is interesting to note that, although the current situation is promising, there is still a considerable difference compared to previous years. CoinShares points out that, although significant, current inflows still lag behind the numbers for 2021 and 2020, which registered, respectively, US$10.7 billion and US$6.6 billion.
CoinShares has also seen a significant increase in trading volume for exchange-traded products (ETPs), a key part of this growth. “Trading volumes on ETPs averaged $3 billion per week, double this year’s average of $1.5 billion. ETP’s share of total crypto asset volume is growing, averaging 11% compared to the long-term historical average of 3.4%, and well above averages seen in the 2020/21 bull market.”
On the cryptocurrency scene, Bitcoin (BTC) continues to be a dominant player with $154.7 million in inflows. At the same time, Solana products raised $13.6 million, reflecting growing interest in Ethereum (ETH) and other competitors. Ethereum, in turn, recorded inflows of $3.3 million, while Litecoin (LTC), Cardano (ADA) and XRP attracted less than a million each.
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Source: https://portalcripto.com.br/solana-sol-impulsiona-investimento-institucional-em-altcoins-durante-onda-positiva-no-mercado-de-criptoativos/
