SOL sparks investors’ interest as this funds flows data shows
According to a recent fund flow report from CoinShares, the Solana-focused investment product attracted $200,000 last week, posting its second consecutive positive weekly result. This achievement is the first time since the collapse of FTX, during which there was an exodus of funds from such investment products, in addition to massive sell-offs in the secondary crypto market.
In addition, there were inflows into Bitcoin (BTC)-oriented products, plus $10.8 million, as well as Polygon (MATIC), where the result was $300,000. For the entire market of crypto-oriented investment products; however, the week ended with a massive outflow of $7.5 million.
On a positive note, the biggest outflows came from funds betting on a drop in BTC’s value. In addition, there was a significant exit from Ethereum-oriented products, which CoinShares analysts linked to the uncertainty around unlocking the token from staking.
Solana (SOL) price action
Despite small but still positive signs on Solana-focused investment products, things were even less dynamic on SOL quotations. Thus, the spread between the high and low of the SOL price in the previous week was just over $1.5, which is less than 10% of the token’s price now.
On the other hand, the Solana token quote has at least halted its decline, which may give it time to reflect on the future of the project.
