The Solana platform is emerging as the favorite for institutional investors

Solana favorite for institutional investors
  • The Solana platform has reached an investment flow of 108 million dollars so far this year.
  • Ethereum had losses that left its YTD flow at 450.8 million dollars

Coinshares, a leading cryptocurrency and other digital asset investment services company, revealed that Solana and its smart contracts are preferred by institutional investors.

To date, according to documents on the flow of funds from the services firm, the Solana platform has received more than 108 million dollars in investment this year, surpassing other ecosystems, including Ethereum.

Solana’s net flows (YTD) from investment in smart contracts reach 500 million dollars, more than ETH contracts.

As for Bitcoin, last week represented a loss of almost $57 million for its YTD flow, which stands at $450.8 million. In the case of Ehtereum, the perfidious amount was 40.7 million dollars.

Litecoin, Cardano and XRP added about 0.2 million dollars per unit in their institutional investment products, which gives a balance to date of 2.9 million dollars, 9.4 million dollars and 6 million dollars respectively.

Last week there were losses of 4.7 million for multi-asset investment products, pushing YTD gains to 200 million, in contrast.

According to Coinshares, predictions about rising interest rates in the market set the tone for cryptocurrencies to exist. He said:

Digital asset investment product flows remain spotty in anticipation of aggressive monetary policy, with steady daily outflows last week totaling $102 million. What has thrown Bitcoin into a “crypto winter” in the last 6 months can largely be explained as a direct result of increasingly aggressive rhetoric from the US Federal Reserve.