CandleFocus Solana Skyrockets in Inflows as Bitcoin Bleeds With $643 Million Outflows
2024-09-09
Author: Content Editor
Last week, investment products based on Solana (SOL) saw significant inflows, while Bitcoin (BTC)-based products struggled. Digital asset investment products experienced outflows of $726 million, matching the largest recorded outflows this year. Speculation about potential interest rate cuts by the U.S Federal Reserve has fueled fear and uncertainty in the market. Major cryptocurrencies, including BTC, ETH, XRP, and SOL, experienced losses over the weekend. Institutional investors are hesitant, leading to outflows in Bitcoin and Ethereum products. However, Solana managed to gain investor interest, with inflows of $6.2 million, the largest of any asset last week. This positive development could change market sentiment towards SOL.
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