Institutional traders have directed their attention towards Solana while demand for Bitcoin and Ether has dropped. SOL investment products have represented a total of 86.6% of the total weekly inflows of crypto investment products over the previous week.
Solana investment products registered an inflow of $49.4 million in four days, between September 6th and September 10th.
The total inflow for crypto investment products reached $57 million for the week, which means that SOL represents 86.6% of the total inflow with a 275% week-over-week increase.
This increased interest in Solana products has also led to an increase in the price of SOL – more than 36% over the same time period.
According to CoinShares’ “Digital Asset Fund Flows Weekly:”
Digital asset products have registered inflows for the fourth consecutive week with a special interest in altcoins. Bitcoin products saw an inflow of only $200,000.
Cardano finally introduced smart contracts, but that didn’t seem to have helped its price – instead, related products registered a decrease of 46% in inflows compared to just a week ago.
Source: CoinTelegraph.com