Ethereum Eclipses Solana In 2024 Inflows Amid Hype For Upcoming ETF Launch
According to a recent report from CoinShares, Ethereum (ETH) saw an uptick in inflows last week, surpassing Solana’s (SOL) inflows for 2024, coinciding with the impending launch of exchange-traded funds (ETFs) that will allow regulated investment in the US for the second-largest cryptocurrency by market capitalization. ETH Dominates Inflows The report highlights Ethereum’s strong momentum recorded over the past month, with inflows reaching $45 million last week, amounting to the year for over $103 million, outpacing Solana’s inflows year-to-date (YTD). Solana, however,....
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Solana has gained the favor of institutional investors recently which has seen a marked increase in the amount of inflows that the altcoin has recorded. This trend has continued with last week’s numbers which show a significant amount of inflows for Solana compared to the likes of Ethereum. Solana Inflows Reach $15.5 Million According to data from the latest CoinShares report, the inflows into Solana for the last week came out to $15.5 million. This came while some altcoins such as Ethereum saw outflows for the week. For context, Ethereum outflows reached $7.4 million in the same time....
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Ethereum has had a rough year, but recent insights from industry insiders indicate a possible comeback. Matthew Sigel, VanEck’s Head of Digital Assets Research, recently indicated that Ethereum is oversold. He thinks that raising speculative interest in the altcoin will enable its comeback. This comes as Ether tries to catch up with rivals such as Bitcoin and Solana, which far exceeded it in 2024. Related Reading: Binance Coin Breaks $600! Is There More Upside Ahead For BNB? A Shift In Market Sentiment Sigel spoke on The Tie’s latest episode in which he hopes Ethereum will go....