Solana (SOL) Receives Strong Support from Institutions

Institutional investors rally behind Solana (SOL) as crypto investments enter a new era

Solana this week outperformed other significant cryptocurrencies in terms of capital inflows from institutional investors, according to Weiss Crypto, a branch of the Weiss rating agency, which announced on its X website.

Weiss Crypto, which has received $24 million in investments, is "continuing to assert itself as the #altcoin of choice among institutions," according to the X post. Weiss Crypto referred to information made available by the CoinShares fund, which works with financial institutions. Solana has witnessed $24 million in fresh investments, according to its report for the previous week. It was SOL's greatest week overall since March of this year, and year-to-date earnings were $55 million.

The current $10.2 million inflows into Ethereum indicate a "tepid appetite for the launch of Ethereum futures ETFs." A total of $42.7 million was invested in bitcoin, the study states. According to the CoinShares report, Cardano's ADA last week garnered $0.2 million, the smallest amount of institutional funding.

In light of the most recent Ethereum product releases, Solana "continues to assert itself as the preferred altcoin," according to a post on CoinShares' X. Last week, financial institutions made a total investment of $78.4 million in cryptocurrency.