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CoinShares: Solana's Year-to-Date Inflows Indicate It Is the Most Adored Altcoin

CoinShares: Solana’s Year-to-Date Inflows Indicate It Is the Most Adored Altcoin

Solana has experienced consistent inflows over the past nine weeks, while other crypto investment products have faced outflows.

Solana’s investment products have seen $26 million worth of inflows since the beginning of 2023, surpassing all other altcoins.

CoinShares’ head of research, James Butterfill, stated that Solana is the “most loved altcoin amongst investors.”

Crypto investment products have mostly seen outflows over the past seven weeks, with $342 million leaving the market during that time.

Solana products, however, have continued to see weekly inflows, with $700,000 coming in each week for the past nine weeks.

Bitcoin (BTC) products were the only other assets to see weekly inflows, totaling $3.8 million.

Solana’s recent positive developments, including partnerships and network improvements, have contributed to its inflows.

Solana’s price has traded mostly sideways since January, but it is up around 95.5% year-to-date.

However, SOL is down 92.5% from its all-time high in November 2021.

In summary, Solana has been attracting steady inflows while other crypto investment products have faced outflows. It has become the most popular altcoin among investors and has seen positive developments in terms of partnerships and network improvements. Despite trading sideways in recent months, Solana’s price has shown significant growth this year.

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