🔥 SOL Eyes $200 Breakout as Institutional Inflows Surge! 🏦🚀
Growing demand helps Solana rise beyond $195.
Institutional interest in SOL boosts capital inflow to $39 million last week.
Solana may get less selling pressure after passing an 8 million SOL supply zone at $195.
Monday's Solana (SOL) price of $191 is positive after a 25% gain in July. Institutional and individual investors are buying smart contracts tokens, bolstering the positive outlook. If demand exceeds supply, Solana may rise beyond $200 in future sessions or days.
The CoinShares digital fund flows data showed strong institutional interest in Solana last week. Last week, $39.1 million entered Solana-related financial instruments, increasing the YTD net inflow to $245 million and AUM to approximately $1.84 billion.
"Solana, XRP, and Sui were notable for their US$39m, US$36m, and US$9.3m inflows," CoinShares' weekly report said.
Fundamental data from CoinGlass shows customer interest in SOL, as SOL futures contracts' Open Interest (OI) rose to $9.5 billion from $7.1 billion on July 1.
The value of unsettled futures and options contracts is called open interest. OI and trading volume increases indicate that traders are betting on a short-term Solana price hike.
After a 60% increase in 24 hours, derivatives market volume reached $26.3 billion. Short position liquidations of $11.4 million, compared to $4.5 million in long holdings, fueled price pumping past $200.
Key buy signs, rising demand, and optimistic market sentiment are supporting Solana's price on Monday. The smart contracts currency is above the $190 resistance-turned-support level, where Glassnode reported investors have amassed 8 million SOL.
"Above this level, supply becomes less dense - suggesting that, if demand persists, the uptrend could accelerate due to reduced overhead resistance," Glassnode wrote on X.
The bullish trend is shown by Solana price above the Ichimoku Cloud.
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