Ethereum

Token

Solana

Million

Polygon

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 <p>The crypto market has been characterized by outflows of late. However, the story is different for a particular altcoin.&nbsp;Solana has registered inflows for nine consecutive weeks now, with the latest week adding $0.7 million. On a year-to-date basis, the number is even higher. CoinShares’ latest weekly report noted,</p> 
 <p>“<strong>The YTD inflows of $26 million suggest it [Solana] is the most loved altcoin amongst investors at present.</strong>“</p> 
 <figure class="wp-block-image size-large is-resized"> 
  <img decoding="async" src="https://cdn.thebittimes.com/images/2023/09/05/877cd7e248bdca826009362ec2b72107.webp" alt="" class="wp-image-110345" style="width: 100%;height:394px" width="700" height="394" srcset="https://cdn.thebittimes.com/images/2023/09/05/877cd7e248bdca826009362ec2b72107.webp 1024w, https://cdn.thebittimes.com/images/2023/09/05/877cd7e248bdca826009362ec2b72107.webp 300w, https://cdn.thebittimes.com/images/2023/09/05/877cd7e248bdca826009362ec2b72107.webp 768w, https://cdn.thebittimes.com/images/2023/09/05/877cd7e248bdca826009362ec2b72107.webp 1536w, https://cdn.thebittimes.com/images/2023/09/05/877cd7e248bdca826009362ec2b72107.webp 380w, https://cdn.thebittimes.com/images/2023/09/05/877cd7e248bdca826009362ec2b72107.webp 550w, https://cdn.thebittimes.com/images/2023/09/05/877cd7e248bdca826009362ec2b72107.webp 800w, https://cdn.thebittimes.com/images/2023/09/05/877cd7e248bdca826009362ec2b72107.webp 1160w, https://cdn.thebittimes.com/images/2023/09/05/877cd7e248bdca826009362ec2b72107.webp 1600w" sizes="(max-width: 700px) 100vw, 700px"> 
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    Source: CNBC 
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 </figure> 
 <p><strong>Also Read: GALA Token Creates New 2023 Low: 96% Investors in Loss</strong></p> 
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 <h3 class="wp-block-heading" id="h-other-altcoins-register-outflows">Other Altcoins Register Outflows</h3> 
 <p>Leaving aside <a rel="noopener noreferrer nofollow" title="Solana" href="https://thebittimes.com/tag/solana.html">Solana</a>, most other altcoins registered out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a>. As tabulated below, <a rel="noopener noreferrer nofollow" title="Institutions" href="https://thebittimes.com/tag/institutions.html">Institutions</a> offloaded Polygon and Ethereum worth $8.6 million and $3.2 million, respectively, while the ‘multi-asset’ and ‘other’ baskets noted out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> worth $9.2 million in total. Owing to the latest run of negative sentiment over the last 7 weeks, the out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> now sum up to $342 million. The year-to-date front, however, painted a different picture. CoinShares report revealed,</p> 
 <p><strong>“The year-to-date digital asset investment products remain in a net inflow position totalling $165 million, with the year so far beset with large gyrations of investor <a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a>, very much driven by the hopes and concerns for regulation on digital assets.”</strong></p> 
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 <p>In fact, the bearishness associated with Bitcoin was seen evaporating in the short term. <a rel="noopener noreferrer nofollow" title="Institutions" href="https://thebittimes.com/tag/institutions.html">Institutions</a> bought Bitcoin worth $3.8 million over the past week. Parallelly, they <a rel="noopener noreferrer nofollow" title="SOL" href="https://thebittimes.com/tag/sol.html">SOL</a>d short-term BTC products worth $3.3 million.</p> 
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  <img decoding="async" width="1024" height="699" src="https://cdn.thebittimes.com/images/2023/09/05/38bb3f31be90222f3006f7fad5dffb06.webp" alt="" class="wp-image-110349" srcset="https://cdn.thebittimes.com/images/2023/09/05/38bb3f31be90222f3006f7fad5dffb06.webp 1024w, https://cdn.thebittimes.com/images/2023/09/05/38bb3f31be90222f3006f7fad5dffb06.webp 300w, https://cdn.thebittimes.com/images/2023/09/05/38bb3f31be90222f3006f7fad5dffb06.webp 768w, https://cdn.thebittimes.com/images/2023/09/05/38bb3f31be90222f3006f7fad5dffb06.webp 380w, https://cdn.thebittimes.com/images/2023/09/05/38bb3f31be90222f3006f7fad5dffb06.webp 550w, https://cdn.thebittimes.com/images/2023/09/05/38bb3f31be90222f3006f7fad5dffb06.webp 800w, https://cdn.thebittimes.com/images/2023/09/05/38bb3f31be90222f3006f7fad5dffb06.webp 1160w, https://cdn.thebittimes.com/images/2023/09/05/38bb3f31be90222f3006f7fad5dffb06.webp 1362w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    Source: CoinShares 
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 </figure> 
 <p><strong>Also Read: Dogecoin Averages 1.3% on its ‘Best’ Trade Day: Here’s Why</strong></p> 
 <p>On the price front, Solana recently lost support at $20.07, paving the way for the price to drop to $17.22. At press time, SOL was trading at $19.33. On a weekly basis, SOL is already down 6%. Consequentially, the Sharpe Ratio of the asset has been hovering in negative territory of late. At press time, it flashed a value of -2.79, indicating that investors’ SOL portfolio has been underdelivering at the moment. Hence, institutions hoarding the asset at this stage is likely a sign of conviction, indicative of an eventual recovery over the mid-term.</p> 
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  <img decoding="async" loading="lazy" width="1024" height="561" src="https://cdn.thebittimes.com/images/2023/09/05/4bcb07e74ebb9bd4d32a33c1bce50e19.webp" alt="" class="wp-image-110351" srcset="https://cdn.thebittimes.com/images/2023/09/05/4bcb07e74ebb9bd4d32a33c1bce50e19.webp 1024w, https://cdn.thebittimes.com/images/2023/09/05/4bcb07e74ebb9bd4d32a33c1bce50e19.webp 300w, https://cdn.thebittimes.com/images/2023/09/05/4bcb07e74ebb9bd4d32a33c1bce50e19.webp 768w, https://cdn.thebittimes.com/images/2023/09/05/4bcb07e74ebb9bd4d32a33c1bce50e19.webp 1536w, https://cdn.thebittimes.com/images/2023/09/05/4bcb07e74ebb9bd4d32a33c1bce50e19.webp 380w, https://cdn.thebittimes.com/images/2023/09/05/4bcb07e74ebb9bd4d32a33c1bce50e19.webp 550w, https://cdn.thebittimes.com/images/2023/09/05/4bcb07e74ebb9bd4d32a33c1bce50e19.webp 800w, https://cdn.thebittimes.com/images/2023/09/05/4bcb07e74ebb9bd4d32a33c1bce50e19.webp 1160w, https://cdn.thebittimes.com/images/2023/09/05/4bcb07e74ebb9bd4d32a33c1bce50e19.webp 1914w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    Source: Messari 
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 <p><strong>Also Read: Crypto: Grayscale AUM Drops 12% to $22 Billion</strong></p> 
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<div class="cs-entry__tags"> 
 <ul> 
  <li>Institutions</li> 
  <li>Sharpe ratio</li> 
  <li>SOL</li> 
  <li>Solana</li> 
 </ul> 
</div> 
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-registers-26-million-inflows-becomes-most-loved-crypto-tbt61529.html">https://thebittimes.com/solana-registers-26-million-inflows-becomes-most-loved-crypto-tbt61529.html</a></p>

Solana Registers $26 Million Inflows: Becomes 'Most Loved' Crypto

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