Solana

USDC

Bitcoin

Coin

<div class="sg-post-des">
 Solana has seen steady inflows over the last nine weeks, even as other crypto investment products have faced outflows over a similar period. 
</div> 
<div class="cointelegraph"> 
 Solana (SOL) investment products clocked $26 million worth of <a rel="noopener noreferrer nofollow" title="inflows" href="https://thebittimes.com/tag/inflows.html">inflows</a> since the start of 2023, outpacing all other <a rel="noopener noreferrer nofollow" title="altcoin" href="https://thebittimes.com/tag/altcoin.html">altcoin</a>s including Ethereum, suggesting its the “most <a rel="noopener noreferrer nofollow" title="loved" href="https://thebittimes.com/tag/loved.html">loved</a> <a rel="noopener noreferrer nofollow" title="altcoin" href="https://thebittimes.com/tag/altcoin.html">altcoin</a> amongst investors” according to CoinShares. 
 In a Sep. 4 Digital Asset Fund Flows weekly&nbsp;report,&nbsp;CoinShares' head of research James Butterfill&nbsp;noted that trading volumes for crypto investment products for the week ending Sep. 1 were 90% above the year-to-date average — with crypto product out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> dropping to $11.2 million. 
 It marks a seven-week run of negative sentiment that’s seen $342 million leave crypto products over that time but YTD, investment products remain net inflow positive at $165 million. 
 <figure> 
 <img src="https://cdn.thebittimes.com/images/2023/09/05/a6bdc06de205531a93f4c3347f782838.png"> 
 <figcaption style="text-align: center;"> Crypto investment products have mostly seen outflows over the past seven weeks. Source: CoinShares 
 </figcaption> 
 </figure> 
 The out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> haven’t affected Solana products however, which saw weekly <a rel="noopener noreferrer nofollow" title="inflows" href="https://thebittimes.com/tag/inflows.html">inflows</a> of $700,000 — the ninth straight week in a row with <a rel="noopener noreferrer nofollow" title="inflows" href="https://thebittimes.com/tag/inflows.html">inflows</a> of $14.1 million over that time and YTD <a rel="noopener noreferrer nofollow" title="inflows" href="https://thebittimes.com/tag/inflows.html">inflows</a> of $26 million. 
 <figure> 
 <img src="https://cdn.thebittimes.com/images/2023/09/05/a3d7d792f773f6a4bf7d98679a9225b5.webp"> 
 <figcaption style="text-align: center;"> Weekly fund flows show positive inflows to Bitcoin and Solana for the week ending Friday, Sep. 1. Source: CoinShares 
 </figcaption> 
 </figure> 
 Bitcoin (BTC) products were the only other asset to see weekly inflows, totaling $3.8 million, while Short BTC, Polygon (MATIC) and Ether (ETH) products all recorded weekly outflows. 
 <figure> 
 <img src="https://cdn.thebittimes.com/images/2023/09/05/37f138ea5d013dfe95b83f8dcc575099.webp"> 
 <figcaption style="text-align: center;"> SOL’s price since Jan. 1 has traded mostly sideways. Source: Cointelegraph 
 </figcaption> 
 </figure> 
 Solana’s <a rel="noopener noreferrer nofollow" title="inflows" href="https://thebittimes.com/tag/inflows.html">inflows</a> come amid a streak of recent positive developments related to the network. 
 On Sep. 1, MakerDAO co-founder Rune Christensen submitted a proposal&nbsp;to build the project’s upcoming native chain off a fork of Solana’s codebase, despite its long-held ties to Ethereum. 
 On Aug. 23 it was reported that Shopify added the Solana-based payment network Solana Pay to its payment options — starting with the stablecoin USD Coin (USDC).&nbsp; 
 The Solana network has also seen some&nbsp;performance and reliability improvements, with only oe outage in 2023 so far. 
 Related: Bitcoin ETF applications: Who is filing and when the SEC may decide 
 SOL’s price is up around 95.5% YTD but has traded mostly sideways around $20 to $25 since mid-January. It was trading at around $19.5 as of 12 am UTC Sep. 5 according to Cointelegraph data. 
 However, SOL is down 92.5% from its November 2021 all-time high of nearly $260. 
 Magazine: BitCulture: Fine art on Solana, AI music, podcast + book reviews 
 <template data-name="subscription_form" data-type="defi_newsletter"></template> 
</div> 
Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-ytd-inflows-suggest-it-s-the-most-loved-altcoin-coinshares-tbt61519.html">https://thebittimes.com/solana-ytd-inflows-suggest-it-s-the-most-loved-altcoin-coinshares-tbt61519.html</a>

Solana YTD inflows suggest it’s the 'most loved altcoin’ — CoinShares

TheBitTimes

Other articles published on Sep 5, 2023

Shiba Inu Remains CoinMarketCap’s Top Trending Token Despite Ongoing Price Slump – Are Whales Acc...

Cross-Chain Project Connext Initiates Airdrop of 105 Million $NEXT Tokens, Starting Today

XRP's 10-Year Journey: How Much Is a $100 Investment Worth Now?

Visa taps into Solana to widen USDC payment capability

Massive Price Surge Ahead: XRP’s $100-$130 Boom Predicted by Noted Analyst

Is Elon Musk the Secret Godfather of Dogecoin? Unveiling the Billionaire’s Covert Ties to DOGE

Join our free newsletter for daily crypto updates!