Crypto Traders Point to Solana Price Explosion as Institutional Funds Rise Amid Red Alert ⋆ ZyCrypto

Crypto assets have had a bumpy ride over the past seven days, leading to massive outflows in institutional and retail markets. Such as Bitcoin (BTC) and Ethereum (ETH), Solana It was among the affected assets that posted negative weekly numbers after showing signs of an upward rally. Despite these exits, Solana’s spark of institutional demand has ignited explosive optimism among bulls.

Solana records weekly fund flows

Solana reversed the trend during a week that saw most altcoins enter the red, maintaining weekly flows. CoinShares’ new weekly fund flows report shows that crypto assets saw modest inflows of $48 million last week, a sharp decline from previous positions. Amid massive whale exits, the total cryptocurrency market capitalization fell by 7%, with billions liquidated in a matter of days.

Solana established himself as an institutional investor favorite, posting slight gains. Last year, the asset posted back-to-back gains as expected Spot ETFs have grown In the United States. According to CoinShares, SOL achieved a net inflow of $15 million into its funds, restoring monthly gains to $14 million. At the time of writing, total assets under management (AUM) exceed $1.59 billion.

Most traders view these gains as a catalyst for SOL demand. It is worth noting that Solana is rebounding faster than the broader market, leading to expectations of massive gains at the next bullish peak. In the past 24 hours, cryptocurrency prices have gained momentum as most of the on-chain metrics have turned green.

SOL is trading at $212, up more than 5% and regaining weekly outflows. Cardano (ADA) also made quick gains as participants took advantage of intraday trading to open new positions. The community dubbed the ETH Killer is trading at $1.13, up 5.7% today.

Ethereum’s problems continue

Ethereum (ETH) lagged amid slight gains recorded on the institutional front in several altcoins. ETH saw $255 million worth of outflows in one week, changing the dynamics of Bitcoin and other assets. Ethereum loss comes Whale unloading Origin to measure small gains.

After the price of ETH fell below $3,300, many large holders increased selling pressure, leading to lower sentiment. Overall, the market saw significant outflows towards the end of the week due to macroeconomic factors.

“Despite the outflow of nearly US$1 billion during the first half of the week, the release of new macroeconomic data and US Federal Reserve meeting minutes that pointed to a stronger US economy and a more hawkish Fed led to outflows of US$940 million in The last half. This suggests that the post-US election honeymoon is over, and that macroeconomic data is once again becoming a major driver of asset prices. “CoinShares wrote.