Solana ETF Inflows Collapse 99% Amid Consolidation

Solana's recovery from a recent downturn is facing a test, with the cryptocurrency consolidating around $120 after four consecutive positive sessions. Despite the slowdown in fund flows, Solana remains above its key moving averages on the four-hour chart, maintaining a mildly bullish technical structure.

The Solana-focused ETFs recorded a significant decline in net inflows, from $188.22 million to $2.43 million, a drop of approximately 98.7% according to CoinGlass data. This reduction in fresh allocations suggests that demand for Solana through ETFs has slowed sharply, but the funds have not experienced a net weekly withdrawal.

However, Solana's network continued to show signs of active usage, with decentralized exchange volume exceeding that of Ethereum mainnet, Ethereum Layer-2 networks, and Hyperliquid on Sunday, according to SolanaFloor. Additionally, more than $4.4 billion in tokenized-stock trading volume was recorded on Solana, indicating growing activity around blockchain-based exposure to traditional equities.