The cryptocurrency Solana (SOL) is showing promising signs of recovery, thanks to its ability to recover from the setbacks caused by the Mt. Gox scandal. A key indicator of this recovery is the increasing flow of investments into Solana-focused institutional portfolios, which is creating a positive outlook for the cryptocurrency's potential to reach $160 by July.
During the week ending July 5, Solana-backed funds saw a surge of $16.30 million, surpassing Ethereum's $10.20 million, indicating a growing preference among institutional investors for Solana.
Concerns over a mass sell-off of Bitcoin haven't deterred institutions from pouring money into Solana, seeing the current market downturn as a chance to invest.
The combination of strong inflows, an optimistic view on interest rates, and technical indicators points to Solana's potential to recover and reach $160.