<\/p>\n
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- Bitcoin and Solana shared the major part of the spoils in a week that produced around $66 million in investment inflows.<\/em><\/li>\n
- SOL\u2019s bullish momentum was waning, indicating that the token could fall below $30.\u00a0<\/em><\/li>\n<\/ul>\n
For the fourth week in a row, digital asset investment products crossed over $60 million in inflows, according to CoinShares\u2019 23 October update. But unlike previous recent weeks, <\/span>Bitcoin [BTC]<\/span><\/a> was not the star of the show.<\/span><\/p>\n
\nRead <\/span>Solana\u2019s [SOL] Price Prediction<\/span><\/a> 2023-2024<\/span><\/p>\n
\nLast week, Solana was king<\/b><\/h4>\n
Instead, <\/span>Solana [SOL]<\/span><\/a>, whose price action has been soaring, got much more inflows than any other altcoin-related product. James Butterfill, who was the author of the report, <\/span>disclosed<\/span><\/a> that Solana registered $15.5 million in inflows. Other assets like <\/span>Ethereum [ETH]<\/span><\/a> and <\/span>Litecoin [LTC]<\/span><\/a> did not get anywhere close to the liquidity assigned to Solana.<\/span><\/p>\n
![\"Digital](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-23-at-13.43.31.png\")
<\/a><\/p>\nSource: CoinShares<\/p>\n<\/div>\n
Bitcoin, as shown above, had $55.3 million in inflows. However, Butterfill noted that, despite the optimism around a BTC spot ETF approval, the inflows were low. This was because he compared the value to June when Blackrock announced that it was also joining the list of applications.<\/span><\/p>\n
CoinShares, through Butterfill, explained that the reason the inflows were not as high was that the broader market seemed to be employing a prudent strategy so as not to get caught up in unfavorable circumstances. The report read,<\/span><\/p>\n
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\u201cIt suggests that the lower inflows this time round, despite the positive news from the Grayscale vs SEC court ruling, are indicative of investors adopting a more cautious approach this time.\u201d<\/span><\/p>\n<\/blockquote>\n
For Solana, the attention it now enjoys goes beyond its price action alone. A few months back, Solana was called a project that would no longer be relevant in the grand scheme of things. This was because of the <\/span>ties<\/span><\/a> it had with the now-collapsed FTX.<\/span><\/p>\n
But one quick look at the blockchain\u2019s <\/span>performance<\/span><\/a> in Q3 showed that a lot of hard work has been put into it. This was especially where Solana stood presently.\u00a0<\/span><\/p>\n
About time to take it slow<\/b><\/h4>\n
- SOL\u2019s bullish momentum was waning, indicating that the token could fall below $30.\u00a0<\/em><\/li>\n<\/ul>\n
![\"Solana](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSD_2023-10-23_14-10-21.png\")