📉 Solana Funds Mark Record Losses While Bitcoin ETFs Gain 📈
💥 Solana’s Record Outflows:
🔻 $39 Million Pulled: Investors withdrew a record $39 million from Solana-based funds last week.
📉 Meme Coin Impact: Declining trading volumes of Solana-based meme coins, like Dogwifhat (WIF) and Bonk, contributed to this massive outflow.
🌍 Global Reach: Outflows primarily affected European and Asian markets, as U.S. investors still await Solana ETPs.
💰 Bitcoin ETFs See Modest Gains:
💵 $42 Million Inflows: Bitcoin funds saw $42 million in new investments, up from $13 million the previous week.
📊 Spot ETFs Lead the Way: Approved by the SEC in January, Bitcoin spot ETFs from giants like BlackRock and Fidelity are leading the charge on American stock exchanges.
📉 Market Overview:
📉 Crypto Fund Inflows Down: Total inflows fell to $30 million last week from $176 million the week prior.
🔄 Price Movement: Bitcoin trades at $58,500, down 12% over the past 30 days, while Solana sits at $144, down 15%.
🌐 Crypto Market in Flux: As Solana faces challenges, Bitcoin remains a stronghold for investors seeking stability in a volatile market.
