Solana Sees Inflows Surge While Bitcoin Suffers $643 Million in Outflows #solanaValidators
Solana (SOL)-based investment products demonstrated remarkable resilience last week, defying broader market trends with significant inflows. Notably, Bitcoin (BTC)-based investment products, in stark contrast, experienced substantial outflows. According to the latest CoinShares report, digital asset investment products, particularly exchange-traded funds (ETFs), saw overall outflows amounting to $726 million.
The release of the Consumer Price Index (CPI) inflation report, expected tomorrow, has heightened uncertainty. Should inflation data reflect a decline, a 50-basis-point cut could become a reality, further influencing market direction.
Such macroeconomic developments have triggered fear across financial and crypto markets alike. Over the weekend, major cryptocurrencies, including Bitcoin, Ethereum, XRP, and Solana, experienced notable price declines. Bitcoin briefly dipped below the critical $52,000 level before recovering to $55,000.
Solana Outperforms Amid Institutional Caution
Institutional investors are increasingly cautious, with bearish sentiment dominating the landscape. Bitcoin investment products bore the brunt, registering $643 million in outflows last week. Ethereum-based products also suffered, with outflows reaching $98 million, reflecting the broader pessimism pervading the market.
However, Solana emerged as a standout performer. While the majority of digital assets faltered, Solana-based products attracted inflows of $6.2 million—the largest among all digital assets last week. This upward trajectory for Solana could signal a shift in market sentiment, driven by renewed institutional interest in the asset.
