Interestingly, demand for SOL-linked funds surged despite a bearish price action, which saw the crypto tumble 16% over the week, AMBCrypto noted usingIn fact, the price decline resulted in a slight drop in total assets under management from last week, from $1.15 billion to $1.14 billion.While it is difficult to pinpoint the bullish catalyst propelling investors toward Solana goods, the possibility of reduced network congestion could be a credible cause.
Solana developers have been shipping release after release to alleviate transaction failures and congestion on the network, issues that have contributed significantly to the FUD around the coin.The Solana community hoped that these improvements would finally resolve the ongoing troubles with the blockchain, which has been strained to its limits due to an explosion inWith Bitcoin crashing below $60,000, the downtrend has persisted on SOL’s charts, with the altcoin down 10% in 24 hours.
The latest drop appeared to be part of the broader market bloodbath, fueled by lackluster performance of newly-listed spot crypto ETFs in Hong Kong.Aniket Verma works as a journalist at AMBCrypto. Contrary to most who are primarily interested in merely tracking price movements of cryptos, his focus is on examining the niche intersection between cryptocurrencies and traditional finance.
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