• Advertise
  • Submit a Press Release
  • About Us
NewsBTC

Bitcoin & cryptocurrency news

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • CasinosTry
  • Play GamesTry
  • Play Casino GamesTry
  • Best Crypto CasinoTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Ethereum Price Cracks Above $2,000 As BlackRock Eyes ETH ETF
Solana

Solana Captures Institutional Investors’ Attention, Inflows Rise To $135 Million

Scott Matherson by Scott Matherson
2 weeks ago
in Solana
Reading Time: 3 mins read

Solana has held its stance among altcoins, registering inflows more than any other cryptocurrency besides Bitcoin last week.  Institutional investment products have witnessed consecutive eight weeks of inflows, with some cryptocurrencies receiving a greater amount of inflows than others.

According to the new CoinShares report on digital asset funds, the majority of this money went into Bitcoin products as the crypto continues to attract investor interest in light of recent developments in the crypto industry. 

Solana Gains Momentum Among Institutional Investors

Solana has been on an incredible run this year, with its native SOL token up over 465% since the beginning of the year. At the same time, investment products tied to Solana have attracted major interest from institutional investors, with inflows now topping $135 million this year.

According to CoinShares, digital asset investment funds registered a total inflow of $176 million last week. Out of this total inflow, $155 million went into Bitcoin, with the last eight weeks of inflows now representing 3.4% of the total assets under management. As a result, the total inflow has now reached $1.32 billion this year, although well behind 2021 and 2020, which saw $10.7 billion and $6.6 billion respectively.

CoinShares’ latest report reveals that weekly inflow into Ethereum products dropped by an astounding 93.27% from $49.1 million to $3.3 million. Solana on the other hand, increased by almost 10% from $12.4 million to $13.6 million. 

Other altcoins also struggled to receive major inflows, with Litecoin and XRP only registering inflows of $0.4 million and $0.5 million respectively. Uniswap and Polygon saw minor outflows of $0.55 million and $0.86 million respectively. 

Factors Influencing The Inflow

Most cryptocurrencies went through a brief period of consolidation last week, but this didn’t roll over into investment products. The report from Coinshares attributes the inflows into Bitcoin in particular to a strong bullish sentiment related to the impending approval of a spot-based Bitcoin ETF in the US. This is particularly evident, as Short-Bitcoin outflows saw another outflow of $8.5 million last week.

Amid these influences and a 101% price surge last month, Solana has seen growth in other aspects of its ecosystem that may have attracted institutional investors. For one, Solana has delivered one of the most impressive performances on TVL in the most recent months. 

Data from DeFiLlama puts the total TVL on the network at $576.44 million, a 77.62% increase in the past month. The platform also revealed a spike in SOL trading volume on decentralized exchanges in the past week.

Related Reading: Shiba Inu Burn Rate Crashes 98.79% With Less Than 1 Million tokens Burned

According to the on-chain intelligence platform Messari, Solana is now the hub for Decentralized Physical Infrastructure Network (DePIN) projects.

What is in the value of a SOL?

Despite a tough market, @solana has outperformed major crypto assets, becoming the hub for DePIN projects and releasing major product announcements like Firedancer. pic.twitter.com/7ouHN089Wd

— Messari (@MessariCrypto) November 20, 2023

Solana (SOL) is currently trading at $56.27 with investors still anticipating a strong break above $60. 

Solana price chart from Tradingview.com (Institutional investors)

SOL price at $56 | Source: SOLUSD on Tradingview.com
Featured image from CNBCTV18, chart from Tradingview.com
Tags: Institutional InvestorsSolSOL newsSOL PriceSolanaSolana newsSolana PriceSOLUSDSOLUSDT
Tweet123Share196ShareSend
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Related Posts

Solana SOL Ethereum

Solana Dominates Ethereum In Daily Active Wallets, SOL Back To $140?

5 hours ago
Solana

Analyst Says Solana At Risk Of Pullback: Here Is The Target

2 days ago
Solana

Solana TVL Balloons To Over $600 Million – What This Means For SOL Price

2 days ago
Solana

Solana Forms Sell Signal, Decline To $30 Ahead?

2 weeks ago
SOL price

SOL Price Forecast Takes Bearish Turn, Prepare For Potential Plummet To $30 Or Lower

2 weeks ago
ChatGPT

Solana Price Prediction: ChatGPT Forecasts $1,000 In 2024

2 weeks ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit
Inmerion

Inmerion

Review · Visit

Press Releases

  • Here’s Five Reasons Why Investors Are Rushing To...

    14 hours ago
  • Bitcoin Blasts Towards $50K as This New Presale Eyes $500K

    18 hours ago
  • Market Buzz: Could This Newcomer Surpass Dogecoin and PEPE...

    19 hours ago
  • VC Spectra’s Stage 5 Launch Rockets Past...

    1 day ago
  • Beyond Ethereum (ETH): Crypto Enthusiasts Whisper About the...

    2 days ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
      • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Casinos
  • Play Games
  • Play Casino Games
  • Best Crypto Casino

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.