Bitcoin’s price plunged again, reaching $43.000, before returning to $45.000. The most popular cryptocurrency has been highly volatile these past few weeks. It is recalled that analyst Michaël van de Poppe had stressed that $49.500 is a point of no return, if there is no support.


Let the whales reject Bitcoin the day El Salvador makes it legal money,” said Scott Melker, a trader and analyst known as The Wolf of All Streets.


So it seems that the institutions have focused on Solana, while the demand for Ethereum and Bitcoin is declining. Investment products around SOL represent 86.6% of total inflows on a weekly basis.


According to CoinShares Digital Asset Fund Flows Weekly, Solana Investment Products (SOL) saw $49.4 million in inflows between September 6th and September 10th.


Total inflows for investment crypto-products last week amounted to $57 million, with SOL accounting for 275% week-on-week and 86.6% of total inflows. Increasing inflows into Solana products coincided with a 36% increase in the price of SOL over the same period.




“A combination of price increases and inflows now brings Solana’s managed assets to $97 million and makes SOL the 5th most valuable cryptocurrency in terms of capitalisation,” according to research.


It is noted that digital assets show excess inflows for the fourth consecutive week, with the demand for altcoins significantly exceeding the appetite for Bitcoin, which showed minimal inflows.


Despite the long-awaited adoption of smart contracts by Cardano (ADA) on September 13th, institutional flows in the ADA fell by 46% compared to the previous week.


Meanwhile, top institutional director Grayscale remained dominant, representing 74% of AUM with $41.8 billion. Grayscale also announced a cooperation agreement with fintech iCapital Network. The agreement will allow iCapital Consultants to offer access to Grayscales digital asset services through a diversified weighted market investment strategy.