Solana (SOL) has recovered 30% of its value since the Black Monday crash, stabilizing between $155 and $140. Despite recent negative net outflows of over $30 million, including a significant $39 million from Solana-based investment products, the token continues its sideways movement.
CoinShares’ data indicate a general trend of reduced trading volume for crypto funds, with a 50% drop to $7.6 billion from the previous week's $19 billion. Bitcoin saw the highest inflows, with $42 million, while Ethereum-based products had minor gains of $4.2 million.
Solana ETPs were heavily hit, registering the largest outflow among cryptocurrencies. CoinGecko data showed that Solana-based memecoins experienced a 3.7% decline in the last 24 hours, influencing SOL's performance.
Analysts like Altcoin Sherpa and Crypto Jelle see SOL's current price range as an accumulation opportunity, predicting significant future gains, particularly if Bitcoin rallies. As of now, SOL is trading at $144, reflecting a 1.4% decrease over the last day.
