Solana Gains Popularity among Institutional Investors
- SOL investment products attracted $7.1 million worth of inflows last week.
Solana (SOL), the world’s 10th largest cryptocurrency, emerged as the most preferred digital asset among institutional investors last week as SOL investment products attracted more institutional investment than Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term.
The recent digital asset fund flows report published by CoinShares mentioned that Solana-related investment products attracted $7.1 million last week, compared to $3.2 million inflows in Ethereum investment products.
Bitcoin, the world’s largest digital currency, saw its 7th straight week of outflows as BTC-related investment products saw $2.8 million worth of outflows in the last week. Apart from Solana and Ethereum, other cryptocurrency assets including Cardano (ADA), Litecoin (LTC) and Polkadot (DOT) attracted substantial inflows during the mentioned period.
“Solana, a competitor to Ethereum offering a flexible infrastructure and faster transaction settlement, saw the largest inflows of any digital asset last week totaling US$7.1m. Ethereum saw minor inflows totaling US$3.2m last week along with other altcoins such as Cardano, Litecoin and Polkadot which saw inflows of US$6.4m, US$1.8m and US$1.1m, respectively,” CoinShares highlighted.
In terms of overall inflows, the digital asset investment products attracted $21 million worth of inflows last week. The total value of the global cryptocurrency assets under management crossed $57 billion for the first time since May 2021.
Price Action of Solana
Solana saw substantial gains in 2021 as the price of SOL jumped from $2 on 1 January 2021 to an all-time high of approximately $80 on 23 August. Currently, Solana is trading near $77 with a market cap of more than $22 billion. The latest rally is driven by strong retail demand for the world’s 10th largest cryptocurrency. But, the latest institutional numbers show that SOL is getting popular among institutional investors due to its price growth.
“Flows across product providers remained mixed, with some continuing to post outflows for the week while others in both North America and Europe posted inflows. We believe this indicates the beginning of a turn in sentiment for digital assets,” CoinShares concluded.
Solana (SOL), the world’s 10th largest cryptocurrency, emerged as the most preferred digital asset among institutional investors last week as SOL investment products attracted more institutional investment than Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term and Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term.
The recent digital asset fund flows report published by CoinShares mentioned that Solana-related investment products attracted $7.1 million last week, compared to $3.2 million inflows in Ethereum investment products.
Bitcoin, the world’s largest digital currency, saw its 7th straight week of outflows as BTC-related investment products saw $2.8 million worth of outflows in the last week. Apart from Solana and Ethereum, other cryptocurrency assets including Cardano (ADA), Litecoin (LTC) and Polkadot (DOT) attracted substantial inflows during the mentioned period.
“Solana, a competitor to Ethereum offering a flexible infrastructure and faster transaction settlement, saw the largest inflows of any digital asset last week totaling US$7.1m. Ethereum saw minor inflows totaling US$3.2m last week along with other altcoins such as Cardano, Litecoin and Polkadot which saw inflows of US$6.4m, US$1.8m and US$1.1m, respectively,” CoinShares highlighted.
In terms of overall inflows, the digital asset investment products attracted $21 million worth of inflows last week. The total value of the global cryptocurrency assets under management crossed $57 billion for the first time since May 2021.
Price Action of Solana
Solana saw substantial gains in 2021 as the price of SOL jumped from $2 on 1 January 2021 to an all-time high of approximately $80 on 23 August. Currently, Solana is trading near $77 with a market cap of more than $22 billion. The latest rally is driven by strong retail demand for the world’s 10th largest cryptocurrency. But, the latest institutional numbers show that SOL is getting popular among institutional investors due to its price growth.
“Flows across product providers remained mixed, with some continuing to post outflows for the week while others in both North America and Europe posted inflows. We believe this indicates the beginning of a turn in sentiment for digital assets,” CoinShares concluded.