Solana Surpasses XRP as Weekly Crypto Inflows Reach $3.3 Billion
Ripple's XRP ended its 80-week inflow streak, recording a significant outflow of $37.2 million last week, as reported by CoinShares.
Key Points from the Digital Asset Fund Flows Weekly Report
- Total crypto market inflows reached $3.3 billion, extending a six-week total to $10.5 billion.
- Year-to-date inflows hit a record of $10.8 billion, with Assets Under Management (AUM) rising to $187.5 billion.
- US led inflows at $3.2 billion; Canada had the lowest at $100,000.
- Bitcoin attracted $2.9 billion, making up 25% of total inflows; Ethereum followed with $326.2 million.
- Short Bitcoin products saw $12.7 million in inflows, while Solana recorded $4.3 million.
Despite broader market uncertainty, Solana's price increased by 3.34% to $177.22. Kraken plans to collaborate with Solana for tokenized US equities through xStocksFi. OKX is also set to launch a wrapped version of BTC on Solana.
Analysts suggest bullish potential for SOL, predicting it could reach between $210 and $400 if it surpasses key resistance levels.