Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
According to a fresh fund flow report from CoinShares, Solana-focused investment products attracted $200,000 last week, posting its second consecutive positive weekly result. The achievement came for the first time since the collapse of FTX, during which, in addition to a massive sell-off on the secondary crypto market, there was an exodus of funds from such investment products.
In addition, there were inflows into Bitcoin (BTC)-oriented products, plus $10.8 million, as well as Polygon (MATIC), where the result was $300,000. For the entire market of crypto-oriented investment products; however, the week ended with a massive outflow of $7.5 million.
On a positive note, the biggest outflows came from funds betting on a decline in the value of BTC. In addition, large volumes exited Ethereum-oriented products, which CoinShares analysts link with the uncertainty surrounding the unlocking of tokens from staking.
Gamza KhanzadaevSolana (SOL) price action
Despite small but still positive signs on Solana-focused investment products, things were even less dynamic on SOL quotations. Thus, the spread between the high and low of the SOL price in the previous week was just over $1.5, which is less than 10% of the token's price now.
On the other hand, the Solana token quotes have at least stopped their fall, which may give time to reflect on the future of the project.
Vladislav Sopov
Tomiwabold Olajide
Dan Burgin