Year-to-Date Solana Entries Suggest It's 'The Most Popular Altcoin' - CoinShares
Solana has seen consistent inflows over the past nine weeks, even as other crypto investment products have faced dips releases over a similar period.
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Solana (SOL) investment products have seen inflows worth $26 million since the start of 2023, outpacing all other altcoins including Ether (ETH), suggesting that it it is “the most preferred altcoin by investors” according to CoinShares.
In a weekly report on digital asset fund flows from September 4, James Butterfill, head of research at CoinShares, noted that trading volumes for crypto investment products for the week ending September September 1 were 90% above the annual average. – with crypto product releases falling to $11.2 million.
This marks a seven-week period of negative sentiment that saw $342 million exit crypto commodities during this period, but year-to-date investment commodities remain positive at $165 million dollars.
Crypto investment products have mostly experienced capital outflows in recent years. last seven weeks. Source: CoinSharesThe outflows did not affect Solana products, however, which saw weekly inflows of $700,000 – the ninth consecutive week with inflows of 14.1 million dollars over this period and entries since the beginning of the year. $26 million.
Weekly Fund Flows Show Positive Inflows to Bitcoin and Solana for the week ending Friday, September 1. Source: CoinSharesBitcoin (BTC) Commodities were the only other asset to see weekly inflows, totaling $3.8 million, while Short BTC, Polygon (MATIC) and ETH products all saw weekly outflows.
Solana has seen consistent inflows over the past nine weeks, even as other crypto investment products have faced dips releases over a similar period.
News
Join us on social networks
Solana (SOL) investment products have seen inflows worth $26 million since the start of 2023, outpacing all other altcoins including Ether (ETH), suggesting that it it is “the most preferred altcoin by investors” according to CoinShares.
In a weekly report on digital asset fund flows from September 4, James Butterfill, head of research at CoinShares, noted that trading volumes for crypto investment products for the week ending September September 1 were 90% above the annual average. – with crypto product releases falling to $11.2 million.
This marks a seven-week period of negative sentiment that saw $342 million exit crypto commodities during this period, but year-to-date investment commodities remain positive at $165 million dollars.
Crypto investment products have mostly experienced capital outflows in recent years. last seven weeks. Source: CoinSharesThe outflows did not affect Solana products, however, which saw weekly inflows of $700,000 – the ninth consecutive week with inflows of 14.1 million dollars over this period and entries since the beginning of the year. $26 million.
Weekly Fund Flows Show Positive Inflows to Bitcoin and Solana for the week ending Friday, September 1. Source: CoinSharesBitcoin (BTC) Commodities were the only other asset to see weekly inflows, totaling $3.8 million, while Short BTC, Polygon (MATIC) and ETH products all saw weekly outflows.
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