What happened to Solana? Ethereum’s biggest rival dropped nearly 20% — is SOL’s rally over?
Solanas SOL just crashed 20% this week. It fell from $205 to $165. The drop came right after the launch of U.S. spot Solana ETFs. Yet demand was strong. CoinShares said Solana products saw $421 million in inflows, their second strongest week ever. Bitwises BSOL led with $199 million, launched with $223 million seed capital. Grayscales GSOL saw $2.2 million inflows with $102 million assets. Bitcoin fell 6%, Ether 12%. Analysts called the ETF debut a success but said weak sentiment and profit-taking drove SOLs fall.
Solanas SOL just crashed 20% this week. It fell from $205 to $165. The drop came right after the launch of U.S. spot Solana ETFs. Yet demand was strong. CoinShares said Solana products saw $421 million in inflows, their second strongest week ever. Bitwises BSOL led with $199 million, launched with $223 million seed capital. Grayscales GSOL saw $2.2 million inflows with $102 million assets. Bitcoin fell 6%, Ether 12%. Analysts called the ETF debut a success but said weak sentiment and profit-taking drove SOLs fall.
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