Digital Coin News

Solana leads altcoins in institutional investment. How will SOL price react?

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 72%

Coin Coin Headlines News

Coin Coin Latest News,Coin Coin Headlines

Solana’s (SOL) price falls sharply on Tuesday, influenced by the steep decline in Bitcoin prices, even though the altcoin registered $6.1 million in inflows from institutional investors last week.

Solana leads Polkadot, Cardano, XRP and other altcoins with $6.1 million in institutional capital inflows last week, data from Coinshares shows. Digital asset investment products noted $862 million in inflows, with Bitcoin leading and only $18.3 million directed towards altcoins. Solana's price lost nearly 6% on the day as on-chain activity declines after the spike seen in the last week of March.

This marks nearly a complete recovery compared to the prior week’s record $931 million outflows. Most inflows to cryptocurrency markets were due to Bitcoin, which registered a $865 million capital inflow. Meanwhile, altcoins saw a combined inflow of $18.3 million, with Solana leading the pack ahead of XRP, Chainlink, and Polkadot. Flows by asset. While Solana-based funds observed a $6.1 million weekly inflow, on-chain activity on the chain has registered a sharp decrease.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in COİN

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Solana Price Prediction: Is SOL the altcoin to buy this bull cycle?While the bullish outlook prevails in the cryptocurrency market, the journey has been tumultuous since the fourth quarter of 2023.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Circle CCTP on Solana set to go live, will SOL price rally?Solana (SOL) may be set for a potential price rally as Circle will launch its Cross-Chain Transfer Protocol (CCTP) utility on its blockchain on Tuesday.
Source: FXStreetNews - 🏆 14. / 72 Read more »