Advertise your product or service? Contact us on Discord.

Solana Is The Only Altcoin Attracting Institutional Investments Amidst Crypto Market Outflows

By: illustrious
May 10, 2023 7:49 AM EDT
Twitter Share

As the cryptocurrency market faces its third consecutive week of major outflows, digital assets manager CoinShares reveals that institutional investors have a predominantly negative sentiment about the market. However, amidst this bearish trend, Solana (SOL) emerges as the only altcoin to see institutional investments, signaling a possible change in the investment landscape.

Massive Crypto Outflows

In CoinShares' latest Digital Asset Fund Flows Weekly Report, it was found that institutional investors sold off $54 million in crypto holdings last week. The majority of the outflows came from Germany and Canada, with $27 million and $20 million respectively. Bitcoin (BTC), the largest cryptocurrency by market capitalization, suffered the most, with outflows totaling $32 million.

Despite this, the sentiment in the United States appeared to turn positive, with inflows of $18 million and the largest weekly outflows from short-Bitcoin on record at $23 million.

Unusually Low Altcoin Investments

Altcoin investments were reported to be "unusually low" as per CoinShares' analysis. Ethereum (ETH), the leading smart contract platform, experienced outflows of $2.3 million, bringing its year-to-date outflows to $26 million. Multi-asset investment products saw minimal inflows of $0.1 million.

Source: CoinFlow

Solana Emerges as the Exception

In stark contrast to the rest of the market, Solana (SOL) was the only stand-alone altcoin to see inflows. The second-largest blockchain platform over the past 12 months attracted $3.4 million in institutional investments. This marked Solana as the sole altcoin to exhibit any positive activity amidst a predominantly bearish market sentiment.

Blockchain Equities Experience Weak Sentiment

CoinShares also reported that blockchain equities, much like the crypto market, suffered weak sentiment last week, with outflows of $7.3 million.


As the crypto market endures massive outflows and a negative sentiment among institutional investors, Solana emerges as a ray of hope. As the only altcoin to attract institutional investments, Solana's performance could indicate an underlying shift in the crypto investment landscape. While the overall market remains uncertain, the unique appeal of Solana may spark renewed interest and potentially change the course of the market in the coming months.

Always experimenting.

Recent News

banner image of nft

DRiP Hits Milestone: Surpasses 25 Million Collectibles

By: illustrious
August 14, 2023 5:03 PM EDT
DRiP has achieved a new milestone, surpassing its 25 millionth collectible. This feat underscores its unique approach to digital assets, emphasizing mass engagement over rarity. Leveraging Solana's efficiency and a creator-centric model, DRiP's influence in the NFT space continues to soar.
banner image of nft

Solana's TVL Hits 2023 Highs at $325 Million

By: illustrious
August 12, 2023 3:53 PM EDT
Solana's 2023 TVL peaks, highlighting increased trust and adoption. Key drivers: innovative protocols, user-friendly platforms, key partnerships, and enhanced security. Its rise underscores Solana's growing DeFi dominance.

© 2023 SolanaFloor