Solana

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Elon Musk

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 <p>Solana is ”the most loved altcoin” after recording investment inflows for nine consecutive weeks even as most altcoins saw outflows, CoinShares said.</p> 
 <p>Solana recorded in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $0.7 million in the week ending Sept. 1 while altcoins again recorded out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a>, most notably Polygon (-$8.6 million) and Ethereum (-$3.2 million), CoinShares said in its <span data-preserver-spaces="true">Digital Asset Fund Flows Weekly Report.&nbsp; Solana’s sucked in in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $26 million so far this year while Ethereum’s seen out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $102 million, it added.&nbsp;</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">Most Altcoins saw out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a>, especially $MATIC and $ETH with US$8.6m and US$3.2m out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> respectively. On the other hand, $SOL saw in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> for the 9th consecutive week totalling US$0.7m, making it the most loved altcoin amongst investors at present.</p> 
  <p>🧵3/5 pic.twitter.com/4X1XeBI6og</p> 
  <p>— CoinShares (@CoinSharesCo) September 4, 2023</p> 
 </blockquote> 
 <p></p> 
 <p class="p1"><span class="s1">The CoinShares’ <span class="s4">report,</span> released on September 4, said that </span><span class="s5">trading volumes for crypto investment products for the week had increased by 90% year-to-date (YTD).&nbsp;</span></p> 
 <p class="p1"><span class="s5">Crypto out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> dropped to $11.2 million amid a seven-week run of negative sentiment that has seen $342 million leave crypto products. Net in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> for crypto investment products remain positive at $165 million for the year.&nbsp;</span></p> 
 <figure id="attachment_436503" aria-describedby="caption-attachment-436503" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="wp-image-436503 size-full" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201397%20878'%3E%3C/svg%3E" alt="Crypto investment flows by provider" width="1397" height="878" data-lazy-srcset="https://cdn.thebittimes.com/images/2023/09/05/e6bafabc8397edb3c33b0d4671c223d8.webp 1397w, https://cdn.thebittimes.com/images/2023/09/05/e6bafabc8397edb3c33b0d4671c223d8.webp 300w, https://cdn.thebittimes.com/images/2023/09/05/e6bafabc8397edb3c33b0d4671c223d8.webp 1024w, https://cdn.thebittimes.com/images/2023/09/05/e6bafabc8397edb3c33b0d4671c223d8.webp 768w" data-lazy-sizes="(max-width: 1397px) 100vw, 1397px" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/05/e6bafabc8397edb3c33b0d4671c223d8.webp"> 
  <noscript> 
   <img decoding="async" class="wp-image-436503 size-full" src="https://cdn.thebittimes.com/images/2023/09/05/e6bafabc8397edb3c33b0d4671c223d8.webp" alt="Crypto investment flows by provider" width="1397" height="878" srcset="https://cdn.thebittimes.com/images/2023/09/05/e6bafabc8397edb3c33b0d4671c223d8.webp 1397w, https://cdn.thebittimes.com/images/2023/09/05/e6bafabc8397edb3c33b0d4671c223d8.webp 300w, https://cdn.thebittimes.com/images/2023/09/05/e6bafabc8397edb3c33b0d4671c223d8.webp 1024w, https://cdn.thebittimes.com/images/2023/09/05/e6bafabc8397edb3c33b0d4671c223d8.webp 768w" sizes="(max-width: 1397px) 100vw, 1397px"> 
  </noscript> 
  <figcaption id="caption-attachment-436503" class="wp-caption-text"> <strong>Source</strong>: <em>CoinShares</em> 
  </figcaption> 
 </figure> 
 <p class="p1"><span class="s1">Solana investment products were, however, not affected by the out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a>. SOL stood out with weekly in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $700,000, marking a ninth straight week in a row with in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> totaling $14.1 million over that period and $26 million year-to-date.&nbsp;</span></p> 
 <figure id="attachment_436504" aria-describedby="caption-attachment-436504" style="width: 100%" class="wp-caption aligncenter"> 
  <img decoding="async" class="wp-image-436504 size-full" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201376%20929'%3E%3C/svg%3E" alt="Flows by Asset" width="1376" height="929" data-lazy-srcset="https://cdn.thebittimes.com/images/2023/09/05/1189e1c32ac254e3c7f8216216f839bf.webp 1376w, https://cdn.thebittimes.com/images/2023/09/05/1189e1c32ac254e3c7f8216216f839bf.webp 300w, https://cdn.thebittimes.com/images/2023/09/05/1189e1c32ac254e3c7f8216216f839bf.webp 1024w, https://cdn.thebittimes.com/images/2023/09/05/1189e1c32ac254e3c7f8216216f839bf.webp 768w" data-lazy-sizes="(max-width: 1376px) 100vw, 1376px" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/05/1189e1c32ac254e3c7f8216216f839bf.webp"> 
  <noscript> 
   <img decoding="async" class="wp-image-436504 size-full" src="https://cdn.thebittimes.com/images/2023/09/05/1189e1c32ac254e3c7f8216216f839bf.webp" alt="Flows by Asset" width="1376" height="929" srcset="https://cdn.thebittimes.com/images/2023/09/05/1189e1c32ac254e3c7f8216216f839bf.webp 1376w, https://cdn.thebittimes.com/images/2023/09/05/1189e1c32ac254e3c7f8216216f839bf.webp 300w, https://cdn.thebittimes.com/images/2023/09/05/1189e1c32ac254e3c7f8216216f839bf.webp 1024w, https://cdn.thebittimes.com/images/2023/09/05/1189e1c32ac254e3c7f8216216f839bf.webp 768w" sizes="(max-width: 1376px) 100vw, 1376px"> 
  </noscript> 
  <figcaption id="caption-attachment-436504" class="wp-caption-text">
    Source: Coinshares 
  </figcaption> 
 </figure> 
 <p class="p4"><span class="s5">Bitcoin posted in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $3.8 million for the week while Short BTC products experienced weekly out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> of $3.3 million.&nbsp;</span></p> 
 <h2 class="p5" id="span-class-s1-investor-momentum-could-scale-solana-price-higher-span"><span class="s1">Investor Momentum Could Scale Solana Price Higher</span></h2> 
 <p class="p1"><span class="s1">SOL is the token powering the Solana ecosystem and is used by developers to pay for gas fees on the blockchain. Solana, which has also been referred to as the “Ethereum killer,” is a blockchain used to build decentralized applications (DApps) and decentralized finance (DeFi) lending protocols.&nbsp;</span></p> 
 <p class="p1"><span class="s1">The network has enjoyed a series of positive developments in the recent past. Last week, Rune Christensen, co-founder of MakerDAO proposed that the project’s upcoming native token be built as a fork of the Solana blockchain.&nbsp;</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">🚀 MakerDAO Co-founder @RuneChristensen recommends leveraging a fork of the Solana codebase for their groundbreaking NewChain project! A perfect match for boosting DeFi innovation and scalability. Exciting times ahead! 👏🌌 $MKR #MakerDAO #DeFi #Solana #NewChain pic.twitter.com/l0FSPWizCK</p> 
  <p>— Cryptonic Daily (@CryptonicDaily) September 2, 2023</p> 
 </blockquote> 
 <p></p> 
 <p class="p1"><span class="s1">Last month, the Ottawa, Ontario-based e-commerce giant Shopify added <span class="s8">Solana Pay, a </span>&nbsp;Solana-based payment network to its payment options — starting with Circle’s stablecoin USD Coin.&nbsp;</span></p> 
 <p class="p1"><span class="s1">At the time of writing, SOL price was hovering around $19.49, down 1.2% over the last 24 hours. Its total market capitalization was about $7.99 billion and a daily trading volume or approximately $230 million, which was up 27% on the day, according to data from CoinMarketCap.</span></p> 
 <p class="p1"><span class="s1">Investor activity could lift SOL from the current level with the short-term target set at the $25 psychological level, 28% above the current price.</span></p> 
 <p class="p1"><span class="s1"><b>SOL/USD Daily Chart</b></span></p> 
 <p><img decoding="async" class="alignnone size-full wp-image-436511" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%202188%201364'%3E%3C/svg%3E" alt="Solana Price Chart - Sep 5" width="2188" height="1364" data-lazy-srcset="https://cdn.thebittimes.com/images/2023/09/05/be14c14e2fadba1dd3eafdc249e683be.webp 2188w, https://cdn.thebittimes.com/images/2023/09/05/be14c14e2fadba1dd3eafdc249e683be.webp 300w, https://cdn.thebittimes.com/images/2023/09/05/be14c14e2fadba1dd3eafdc249e683be.webp 1024w, https://cdn.thebittimes.com/images/2023/09/05/be14c14e2fadba1dd3eafdc249e683be.webp 768w, https://cdn.thebittimes.com/images/2023/09/05/be14c14e2fadba1dd3eafdc249e683be.webp 1536w, https://cdn.thebittimes.com/images/2023/09/05/be14c14e2fadba1dd3eafdc249e683be.webp 2048w" data-lazy-sizes="(max-width: 2188px) 100vw, 2188px" data-lazy-src="https://cdn.thebittimes.com/images/2023/09/05/be14c14e2fadba1dd3eafdc249e683be.webp"> 
  <noscript> 
   <img decoding="async" class="alignnone size-full wp-image-436511" src="https://cdn.thebittimes.com/images/2023/09/05/be14c14e2fadba1dd3eafdc249e683be.webp" alt="Solana Price Chart - Sep 5" width="2188" height="1364" srcset="https://cdn.thebittimes.com/images/2023/09/05/be14c14e2fadba1dd3eafdc249e683be.webp 2188w, https://cdn.thebittimes.com/images/2023/09/05/be14c14e2fadba1dd3eafdc249e683be.webp 300w, https://cdn.thebittimes.com/images/2023/09/05/be14c14e2fadba1dd3eafdc249e683be.webp 1024w, https://cdn.thebittimes.com/images/2023/09/05/be14c14e2fadba1dd3eafdc249e683be.webp 768w, https://cdn.thebittimes.com/images/2023/09/05/be14c14e2fadba1dd3eafdc249e683be.webp 1536w, https://cdn.thebittimes.com/images/2023/09/05/be14c14e2fadba1dd3eafdc249e683be.webp 2048w" sizes="(max-width: 2188px) 100vw, 2188px"> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-is-most-loved-altcoin-with-26-million-in-inflows-this-year-coinshares-says-tbt61588.html">https://thebittimes.com/solana-is-most-loved-altcoin-with-26-million-in-inflows-this-year-coinshares-says-tbt61588.html</a></p>

Solana is “Most Loved Altcoin” With $26 Million In Inflows This Year, CoinShares Says

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