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Solana (SOL) Rally Might Be Coming to an End as ETPs See an Outflow of $39 Million

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Aug 27, 2024 am 03:36 AM

solana Cryptocurrency Downtrend market cooling informed investing

Exchange-traded products (ETPs) derived from digital assets have become a popular method for institutional investors to gain exposure to the crypto market

Solana (SOL) Rally Might Be Coming to an End as ETPs See an Outflow of Million

Solana (SOL) ETPs saw an outflow of $39 million this past week, which could be a sign that the cryptocurrency might be cooling off after a recent rally.

Here’s what this means for SOL and other crypto assets.

Solana ETPs saw an outflow of $39 million last week, indicating a potential slowdown in institutional interest towards the cryptocurrency. After hitting a peak price of over $200, SOL also showed signs of a potential trend reversal, dropping to around $175 over the following week.

институциональные инвесторы institutional investors

Solana ETPs saw an outflow of $39 million this past week, which could be a sign that institutional investors are cooling on the cryptocurrency after a recent rally.

Solana ETPs, which derive their value from the SOL token, saw an outflow last week, while the broader crypto market also saw a net outflow of $32 million from all ETPs. This might indicate a cooling off in the broader crypto market after an explosive couple of months.

Solana ETPs saw an outflow of $39 million this past week, which might be a sign that the cryptocurrency is cooling off after a recent rally.

Here’s what this means for SOL and other crypto assets.

Solana ETPs saw an outflow of $39 million this past week, which could be a sign that institutional investors are cooling on the cryptocurrency after a recent rally.

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