Ethereum

Solana

James

Gains

<div class="insidebitcoins">
 Solana (SOL) recorded its largest weekly in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> since March last year as product launches boosted its appeal, CoinShares said.
 Solana is “continuing to assert itself as the altcoin of choice,” said James Butterfill, research head at CoinShares. Solana sucked in $24 million, bringing its year-to-date inflows to $55 million.
 It’s recorded in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a> in 28 out of 32 weeks this year, with only four weeks of out<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a>.
 Digital asset investment products overall saw inflows for a second week, totalling US$78m, with Bitcoin dominating them with $43 million. Some investors capitalized on Bitcoin’s recent price strength and added to short-bitcoin positions, which reached $1.2 million, CoinShares said.&nbsp;
 Trading volumes for exchange-traded products rose more than 37% to US$1.13bn for the week, it said.
 There was only tepid appetite for the Ethereum futures ETF products launched in the US last week with slightly less than US$10 million flowing into them, it added.
 <img decoding="async" class="alignnone wp-image-446710" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%20985%20755'%3E%3C/svg%3E" alt="Flows By Asset" width="985" height="755" data-lazy-srcset="https://cdn.thebittimes.com/images/2023/10/10/358b38d3a1c6c96f611249d78d68d038.webp 300w, https://cdn.thebittimes.com/images/2023/10/10/358b38d3a1c6c96f611249d78d68d038.webp 684w" data-lazy-sizes="(max-width: 985px) 100vw, 985px" data-lazy-src="https://cdn.thebittimes.com/images/2023/10/10/358b38d3a1c6c96f611249d78d68d038.webp">
 <noscript><img decoding="async" class="alignnone wp-image-446710" src="https://cdn.thebittimes.com/images/2023/10/10/358b38d3a1c6c96f611249d78d68d038.webp" alt="Flows By Asset" width="985" height="755" srcset="https://cdn.thebittimes.com/images/2023/10/10/358b38d3a1c6c96f611249d78d68d038.webp 300w, https://cdn.thebittimes.com/images/2023/10/10/358b38d3a1c6c96f611249d78d68d038.webp 684w" sizes="(max-width: 985px) 100vw, 985px">
 </noscript>
 Germany and Switzerland accounted for the bulk of last week’s inflows, bringing in $37.3 million and $ 31.3 million, respectively. The US and Canada combined brought in only $9 million.&nbsp;
 <figure id="attachment_446709" aria-describedby="caption-attachment-446709" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class=" wp-image-446709" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201047%20649'%3E%3C/svg%3E" alt="Flows by exchange per country" width="1047" height="649" data-lazy-srcset="https://cdn.thebittimes.com/images/2023/10/10/64894eaa4cbef1fbd8aa8f2e47f849d6.webp 300w, https://cdn.thebittimes.com/images/2023/10/10/64894eaa4cbef1fbd8aa8f2e47f849d6.webp 310w, https://cdn.thebittimes.com/images/2023/10/10/64894eaa4cbef1fbd8aa8f2e47f849d6.webp 722w" data-lazy-sizes="(max-width: 1047px) 100vw, 1047px" data-lazy-src="https://cdn.thebittimes.com/images/2023/10/10/64894eaa4cbef1fbd8aa8f2e47f849d6.webp">
 <noscript><img decoding="async" class=" wp-image-446709" src="https://cdn.thebittimes.com/images/2023/10/10/64894eaa4cbef1fbd8aa8f2e47f849d6.webp" alt="Flows by exchange per country" width="1047" height="649" srcset="https://cdn.thebittimes.com/images/2023/10/10/64894eaa4cbef1fbd8aa8f2e47f849d6.webp 300w, https://cdn.thebittimes.com/images/2023/10/10/64894eaa4cbef1fbd8aa8f2e47f849d6.webp 310w, https://cdn.thebittimes.com/images/2023/10/10/64894eaa4cbef1fbd8aa8f2e47f849d6.webp 722w" sizes="(max-width: 1047px) 100vw, 1047px">
 </noscript>
 <figcaption id="caption-attachment-446709" class="wp-caption-text">
 Flows by exchange per country (Source; Coinshares)
 </figcaption>
 </figure>
 <h2 class="p6" id="span-class-s1-rising-total-value-locked-span">Rising Total Value Locked</h2>
 Solana’s popularity as an altcoin extends beyond its recent inflow surge. According to Nansen, a crypto <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> firm, Solana’s Total Value Locked (TVL) has nearly doubled since the beginning of the year, boasting a TVL of 30.95 million SOL.&nbsp;
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Solana’s Total Value Locked (TVL) has almost doubled since the start of the year, boasting a TVL of 30.95M SOL
 Source: @DefiLlama pic.twitter.com/IAJVTipUQi
 — Nansen 🧭 (@nansen_ai) October 5, 2023
 </blockquote>
 
 Nansen also notes that Solana’s stable transaction count and its rise as a hub for active economic activity contribute to its growing prominence in the crypto world. The <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> firm sees significant potential in Solana’s liquid staking initiative, with less than 3% of staked SOL currently participating in the alt coin’s liquid staking protocols.
 <h2 class="p6" id="span-class-s1-solana-s-2023-success-attributed-to-institutional-investors-and-strategic-partnerships-span">Solana’s 2023 Success Attributed to Institutional Investors and Strategic Partnerships</h2>
 As Inside Bitcoins reported earlier, Solana’s outperformance in 2023 can be attributed to its appeal to institutional investors, marked by over 20&nbsp; weeks of continuous in<a rel="noopener noreferrer nofollow" title="flows" href="https://thebittimes.com/tag/flows.html">flows</a>. This appeal arises from successful partnerships, including with Visa, as well as fast and cost-effective transaction.&nbsp;&nbsp;
 Solana (SOL) is up 15% in 14 days and almost 28% in a month, but it’s fallen 8% over the past week. Investors looking to buy alt coins may also consider these.
 <h3 class="p2" id="span-class-s1-b-related-articles-b-span">Related Articles</h3>
 <ul>
 <li>Best Crypto to Buy Now – Top 10+ List</li>
 <li>Bitcoin Price Prediction: Can BTC Reach $30,000 Amid Market Volatility while a New Presale Token Gains Traction?</li>
 <li>Solana Price Prediction: SOL Boosts 14% – Is This the Beginning of a Bull Run?</li>
 </ul>
 Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-records-largest-weekly-inflows-since-march-2022-is-altcoin-of-choice-coinshares-says-tbt65837.html">https://thebittimes.com/solana-records-largest-weekly-inflows-since-march-2022-is-altcoin-of-choice-coinshares-says-tbt65837.html</a>
</div>

Solana Records Largest Weekly Inflows Since March 2022, Is ”Altcoin Of Choice,” CoinShares Says

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