According to CoinShares, a digital assets manager, Solana (SOL) is currently the most popular altcoin among investors. The latest Digital Asset Fund Flows Weekly Report from CoinShares reveals that, despite minor outflows in the overall digital asset markets, Solana has seen minor inflows for nine consecutive weeks.
Institutional investors and their admiration for ETH rival
In fact, Solana’s YTD inflows of $26 million suggest that it is the most cherished altcoin among investors this year. On the other hand, the digital assets markets recorded over $11 million in outflows.
CoinShares reported that digital asset investment product flows cooled off, with relatively minor outflows of $11.2 million.
However, year-to-date digital asset investment products remain in a net inflow position totaling $165 million, with investor flows being largely influenced by hopes and concerns for regulation on digital assets.
Last week, Bitcoin (BTC), Polygon (MATIC), and Ethereum investment products experienced outflows of $3.8 million, $8.6 million, and $3.2 million respectively. Nonetheless, CoinShares has reported that trading volumes have increased, despite the minor outflows.
“Although there was little activity regarding flows, trading volumes were significantly higher than usual, reaching a total of $2.8 billion for the week, which is 90% above the year-to-date average.”
Bitcoin price prediction is out
A popular crypto strategist believes that Bitcoin (BTC) could see a rise in its value despite the current unstable market conditions.
Jason Pizzino, an analyst with a vast YouTube subscriber base of 290,000, recently cautioned that if Bitcoin’s price falls to about $23,500, it could trigger negative sentiments among BTC investors.
He predicts that this could result in a 9% gap between $26,000 and $23,500. Pizzino notes that the market’s low activity has caused low volatility, and even a slight price hike could cause significant fluctuations.
He expects to hear many bearish predictions, ranging from $15,000 to $10,000, but believes that this may be a sign of an impending market shift.
Pizzino is closely monitoring the price of $23,600 as a key indicator of BTC’s future performance.
