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Eric Balchunas
Crypto Newbie
03-06 05:24
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Since the launch of the Solana ETF in July, its price has fallen by 57% (arguably the worst time for an ETF market), yet it has not only successfully attracted $1.5 billion in inflows but also suffered virtually no losses. Furthermore, 50% of the assets come from 13F filers, indicating a very strong investment base. In my opinion, both of these points point to a bright future for Solana. @JSeyff published an excellent article on this topic today. Regarding these inflows, if we adjust for the difference between Solana's and Bitcoin's market capitalization, the net new inflows amount to $54 billion, roughly twice the market capitalization of Bitcoin at the time. At that time, Bitcoin's gains far exceeded Solana's 57% increase. In short, considering the size and current state of the Solana market, these figures are quite impressive.
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