Solana plunges 20% in a week despite robust ETF inflows

Uk Jin

Summary

It reported that Solana's price fell about 20% over the past week.
Despite robust inflows into ETFs, Solana's price has not shown signs of recovery.
Compared with the large outflows from Bitcoin and Ethereum ETFs, the Solana ETF has continued to see solid demand.

Solana (SOL) price has fallen by about 20% over the past week.

As of 8:35 AM on the 4th (Korean time), CoinMarketCap shows Solana is down 11.16% from the previous day at 165.67 dollars. This represents a 17% decline compared to the previous week.

This weakness has continued despite the launch of exchange-traded funds (ETFs). In particular, despite solid inflows into ETFs, the price has failed to show signs of recovery. Crypto-focused outlet CoinDesk reported, "Despite a total net inflow of 421 million dollars into Solana ETF-related products last week, Solana has continued to record a persistent decline."

Bettle Lunde, head of K33 Research, said, "The launch of a spot Solana ETF was an obvious success," and added, "robust demand continued even amid large outflows from Bitcoin and Ethereum ETFs."

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