Solana (SOL) Sees Another Wave Of Institutional Investors

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Solana is a project that has been making waves, especially during the past few weeks.

The price of the digital asset SOL exploded, and it’s obviously currently correcting along the rest of the important coins in the crypto market.

Institutional money is pouring into Solana

Now, it’s been revealed that institutional investors are unphased by Solana’s recent network outage as they continue to pour capital into SOL. The data was revealed according to crypto asset management firm CoinShares.

As you probably know by now, last week, the smart contract platform Solana (SOL) suffered a distributed denial-of-service (DDoS) attack that caused the network to go offline.

But thankfully, Solana developers managed to restart Solana’s mainnet and restore functionality just a few hours after the attack began.

The online publication the Daily Hodl notes that according to a weekly inflow analysis conducted by CoinShares, “institutional investors shrugged off Solana’s network outage and added a net total of $4.8 million to their positions last week.”

Check out what the official notes say:

“Solana, despite recovering from a network outage caused by a DDoS attack, saw inflows of US$4.8m. This suggests investors were happy to shrug off the attack, seeing it as teething problems rather than something more inherent with the network.”

Solana bullish predictions

Solana has been booming in popularity lately.

It’s been growing more and more popular among crypto investors, and this has a result in the fact that it’s threatening the more established crypto assets.

The digital asset management company CoinShares notes that Solana is seeing more inflows than Bitcoin and Ethereum.

As Cointelegraph notes, SOL’s price extended its slide recently as a major network outage over the past week hit traders’ confidence, as we already revealed.

In the recent analysts that the online publication made, it’s been explained the reasons for which SOL/USD could reach $250.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.
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