The post Solana Sustains Capital Inflow Since September 2023, Hitting a Daily Peak of $776M This Year appeared on BitcoinEthereumNews.com.

Solana has maintained a trend of daily positive capital netflow over the past year, outpacing Bitcoin and Ethereum in price performance. Particularly, Solana has experienced a consistent influx of capital since September 2023, reaching a peak of $776 million in daily inflows this year, according to blockchain analytics firm Glassnode.  Solana Sees Capital Influx Despite ETF Absence This growing liquidity has contributed to Solana’s impressive price appreciation, with the crypto asset rising over 2,143% from its November 2022 low of $9.64, a price point it revisited on the back of the contagion from the FTX implosion. Solana Capital Influx | Glassnode Despite the absence of Solana exchange-traded funds (ETFs), SOL has managed to attract substantial investment. In contrast, Bitcoin and Ethereum have benefited from the introduction of spot ETFs, which have triggered greater institutional investment and contributed to their market growth.  For instance, the approval of spot Bitcoin ETFs earlier this year led to impressive capital inflows, with investors injecting $36 billion into these funds, accumulating assets of about $110 billion.  However, the U.S. Securities and Exchange Commission (SEC) has been hesitant to approve spot Solana ETF applications. The Crypto Basic confirmed that the SEC plans to reject filings from multiple asset managers seeking to launch such products.  Notably, this stance is possibly due to regulatory uncertainties and concerns over investor protection. Despite facing regulatory hurdles, Solana has shown impressive growth and resilience.  Since its November 2022 cycle low, the cryptocurrency has outpaced Bitcoin and Ethereum in price gains. According to Glassnode’s data, Solana outperformed Bitcoin and Ethereum in price movements on 344 of 727 days following the FTX collapse. SOL BTC and ETH Price Performance | Glassnode SOL Has Room for Growth Also, the capital inflows have driven a substantial rise in Solana’s Realized Cap, which reflects the total value…

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Filed under: News - @ December 26, 2024 6:23 pm