Solana YTD Inflows Indicate it’s the ‘Most Loved Altcoin’ — CoinShares Analysis

Investment products focused on Solana (SOL) have attracted $26 million in inflows since the beginning of 2023, outperforming other altcoins, including Ether (ETH). This trend positions SOL as the “most favored altcoin among investors,” according to insights provided by CoinShares.

In a weekly report from CoinShares dated September 4, the firm’s head of research, James Butterfill, highlighted that trading volumes for cryptocurrency investment products surged to 90% above the average for the year-to-date for the week ending September 1, alongside a decrease in outflows to $11.2 million.

Generally, crypto investment products have experienced significant outflows over the past seven weeks. However, the report indicated positive inflows for both Solana and other assets for the week concluding on September 1. Since January 1, SOL’s price has predominantly remained stable.