Solana beats Bitcoin, Ethereum as SOL ETF inflows hit $6.8M!
Solana’s spot ETFs continued their strong run, recording $6.8 million in web inflows on the tenth of November, in line with information from Farside Buyers.
Supply: Farside Buyers
The Bitwise Solana ETF [BSOL] led with $5.9 million, whereas the Grayscale Solana ETF [GSOL] added $0.9 million. That is Solana’s second consecutive week of regular inflows, bringing its complete since launch to $343 million.
In distinction, Bitcoin and Ethereum merchandise saw limited activity.
Derivatives keep regular
Solana’s derivatives information confirmed regular and balanced sentiment regardless of robust ETF inflows.
Supply: Coinalyze
OI hovered round $3.4 billion, at press time, so merchants maintained constant publicity with out vital liquidations or new leverage. In the meantime, the Funding Charges averaged -0.0009, a barely bearish bias however no aggressive shorting exercise.
Maybe Solana’s current power is being pushed extra by spot demand and ETF exercise than speculative futures buying and selling. This can be a wholesome setup, displaying market maturity too.
SOL faces resistance
Solana traded at $163 at press time. The SOL was down 2.3% up to now day, with seen weak spot on the every day chart.
Supply: TradingView
The RSI confirmed restricted shopping for power regardless of robust ETF inflows. The CMF at 0.00 means impartial capital motion, so inflows weren’t translating into robust spot demand but.
Worth motion confirmed consolidation after repeated rejections close to $170, so there may be resistance in that zone. If SOL fails to carry above $160, a retest of the $150 stage appears to be like possible earlier than any contemporary try at restoration.
