Bitcoin and Solana Lead the Way as Crypto Inflows Continue to Rise After Five Weeks

Bitcoin and Solana Lead the Way as Crypto Inflows Continue to Rise After Five Weeks

After 5 weeks,​ crypto inflows are​ on the rise. Solana and Bitcoin top the list.

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  • Bitcoin invested​ $144 million, while Solana contributed ⁤$5.9 million.
  • Ethereum’s struggle with regulatory uncertainty ⁤led to a‌ sell-off of its products.

According to​ a report by⁣ CoinShares, ‌investment products have finally ⁣broken the five-week streak in which they⁢ had been seeing ⁤outflows. ​They are ⁤now seeing weekly inflows⁣ of $144 million.

The digital asset management company publishes a weekly report on⁣ investments in crypto products. All five of the past weeks have seen massive outflows despite a strong start to‍ the new⁤ year.

Capital increases amid falling⁤ volumes

Last week, however, ⁤these products managed to attract​ inflows of⁢ $130 million. The report attributed the increase ⁤to ​Hong Kong’s growing interest⁢ in cryptocurrency products.

ETFs saw low outflows ​in the ⁢US Bitcoin wasn’t ‌the only one contributing to the positive ‌record.

Solana also played a role in this,‍ according to CoinShares [SOL] as it recorded inflows of $5.9 million. ETP‌ volumes fell despite improvements‍ compared to the average weekly volume for April.

Bitcoin and⁤ Solana lead weekly crypto investment flow

Source: CoinShares

ETPs ⁤are exchange-traded products. In April, the average volume​ was ‌$17 billion. Last week, volume was just $8 ⁤billion.

The report⁣ noted that the decreased interest was⁣ due to a decline in interaction with crypto products.

ETP⁤ trading volume on ⁢trusted global exchanges has‌ dropped from 31% to 22% this month.

Bitcoin was ​worth $62,579, up 2.72% in the last 24 hours. Solana changed hands for $148.22, up 7.44% over the same period.

BTC and⁤ SOL outperform ETH

This price action could indicate that investing capital in Bitcoin and Solana ⁢products is a ⁢good choice.

The market seemed to be getting more and more confident about BTC and SOL. The ​state of their weighted⁤ sentiment was a ⁤clear indication.

AskFX, using Santiment’s on-chain data, found that⁤ Bitcoin’s weighted sentiment was 0.201. This⁢ meant that the majority of ⁣comments ‌were positive.

SOL‍ was ⁣at ‌-0.429. This⁢ was an improvement from the previous reading on May 12. This was ​a confirmation of the decreasing pessimistic​ bias surrounding Solana.

Bitcoin and Solana traders have become more optimistic

Source: Santiment

Ethereum [ETH] ‌It was also on the radar. It lost this⁣ time because AskFX had reported that the altcoin had received more inflows the week before.


Here is SOL’s market‌ cap in BTC.


According to the latest data, Ethereum-related products recorded outflows of ⁢$14.4 ​million.

CoinShares stated that the main‍ reason for the decline was waning optimism regarding Ethereum ETF approval.

The lack⁣ of interaction from US ‍regulators with‌ ETF issuers for ​a ‌spot Ethereum ETF⁣ increased speculation that ETF approval is not imminent, reflected in outflows of $14 million last week.

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