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Solana (SOL) has been making headlines a lot last year, and the coin continues to see adoption in 2022 as well. Check out the latest reports about the digital asset.
It’s been just revealed that the bearish sentiment among institutional investors in the crypto markets seems to be cooling despite millions of dollars in outflows from digital asset investment products.
The online publication the Daily Hodl notes that according to digital asset manager CoinShares, crypto investment products suffered outflows of $73,000,000 last week. It’s also important to note the fact that this is the fifth week of outflows in a row.
“Digital asset investment products saw outflows totaling a weekly record of US$73m, the 5th week of outflows with this run now totaling US$532m.”
Bitcoin (BTC) suffered the heaviest outflows amongst institutional investors.
“Bitcoin saw outflows totaling US$55m, with four out of the last five weeks seeing outflows totaling US$317m.”
Solana recent price movement
Despite the general downward trend, Solana (SOL) has only had two weeks of outflows in the past three months.
“Solana remains an investor favorite with inflows totaling US$5.4m last week and has only seen two individual weeks of outflows since August 2021.”
At the moment of writing this article, SOL is trading in the red and the coin is priced at $134,61.
It’s been revealed that there are some important digital assets that are not in a bear market these days. Check out the latest reports and predictions about Cardano, Ethereum, Solana.
He also explained that Ethereum competitor Solana (SOL) is also putting up a good fight against ETH.
He says that SOL/ETH looks resilient.
“Momentum has rolled over there. It’s been stagnant since back here in September against ETH.”
Stay tuned for more news and make sure to keep your eyes on the market to see where the prices are going these days.