The Solana cryptocurrency continues to attract investors, with an influx of US$5 million in the last week, which is equivalent to more than R$25.3 million at the current exchange rate in reais. This marks the 27th consecutive week of inflows into Sola$SOL $na, making it the most popular alternative cryptocurrency (altcoin) this year, according to cryptocurrency analytics firm CoinShares.
In addition to Solana, investments in digital assets in general also saw inflows last week, totaling US$21 million (R$106 million). This came after a six-week period of departures. CoinShares attributes this change to a rise in cryptocurrency prices, concerns about US public debt and issues related to government funding.
However, the analysis highlights that despite the recent price increase, trading volumes remain low in both the investment products market and the cryptocurrency market in general.
Bitcoin continues to be the most popular cryptocurrency, with inflows of $20 million last week. On the other hand, those betting on the price of Bitcoin falling (Bitcoin shorts) recorded inflows of US$1.5 million, bringing total outflows since April to US$85 million.
In contrast, Ethereum, the second-largest cryptocurrency by market capitalization, saw outflows for the seventh consecutive week totaling $1.5 million, making it the least-loved altcoin currently.
Shares of blockchain-focused companies also faced outflows of $8.4 million, in line with a broader sell-off trend in the technology sector.
The analysis notes a regional divergence, with the United States recording outflows of US$19 million last week. On the other hand, Europe and Canada experienced inflows of US$23 million and US$17 million, respectively. Brazil also recorded outflows of around US$900,000.
In summary, Solana continues to attract investors, while Bitcoin remains popular despite short-term positions. Ethereum faces continuous outflows, and there is regional divergence in inflows and outflows of cryptocurrency investments.#bitcoin #cryptocurrencies #solana
