Solana has been outperforming BTC and ETH since November 2022.
Glassnode highlights increased capital inflows into SOL.
The approval of the Solana ETF could support price gains.
Solana (SOL) has attracted attention beyond ETF enthusiasm, according to a recent report prepared by Glassnode. Glassnode highlights capital flows in the Solana asset, the report states. Since the bottom of the bull market in November 2022, SOL has outperformed Bitcoin (BTC) and Ethereum (ETH).
This year, one of the most important factors contributing to SOL's price movement has been the explosion of memecoins. In addition to products that focus on the individual side of the market, asset managers are now developing SOL ETF products for institutional investors.
Please enter the text to be translated.
Along with Atkins and various industry lobby groups, more crypto ETFs tracking Solana are expected to be launched soon. If successful, previous price analysis suggests that SOL prices could rise to $400.
Solana's performance and increased capital inflows strengthen future growth expectations. It is expected that SOL's market position will be further consolidated with increased institutional investment and ETF approval.