Solana ($SOL) Investment Products Keep Attracting Institutional Investors

Institutional investors continued to contribute to smart contract platform Solana ($SOL) with investment products focused on cryptocurrencies. Their bets come weeks after the collapse of FTX and the collapse of the price of SOL. According to the latest 
 CoinShares digital asset flows report, Solana-focused investment products brought in $
400,000 last week, up from $200,000 the previous week, marking the third week since the collapse of FTX. 

 FTX CEO Sam Bankman-Fried, who was arrested earlier this week in the Bahamas, is a known supporter of $SOL  and has invested in many projects related to the cryptocurrency ecosystem. His involvement in these projects has affected investor confidence in them since the collapse of FTX. At the time of writing, $SOL is trading near $14 after last month's low of $11. 

 Data from Santiment, an analytical firm active in the chain, suggests that the fear surrounding Solana could lead to an increase in its price. This can happen when short sellers begin to exit their positions, triggering a short squeeze. 

 A short squeeze occurs when the price of an asset rises quickly and unexpectedly. If short sellers close out positions, the flow of buy orders can push the asset price even higher. 

 Separately, former Goldman Sachs CEO Raoul Pal  explained why he believes now could be a good time to buy Solana's blockchain initial token $SOL,  despite  the doom and gloom surrounding the entire Solana ecosystem following Solana's collapse. FTX. 

 During an "Ask Me Anything" session  on the "Real Vision Crypto" YouTube channel, Pal had this to say about Solana,  detailing how he likes Solana and where it is now, noting that it's "doing something very smart." 

 Solana reminds me of Ethereum  in 2018 when it was down 97% and no one cared. And it was a great  opportunity. 

 The CoinShares report also says that sales of cryptocurrency investment products were $8.8 million last week, while trading volumes hit a new two-year low. Bitcoin investment products saw inflows of $17.1 million, while most other products saw outflows. Solana ($SOL) was the only major altcoin to see inflows.


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