Solana's Price Holds Steady Amidst 11-Day ETF Inflow Streak
Solana's price held above $99 after a mild market correction interrupted its recent rally. Over the past 24 hours, SOL declined 2.95% to $99.35, underperforming the broader cryptocurrency market.
However, Solana remains 35% higher over two weeks and continues to see support from eleven consecutive days of ETF inflows. This streak has added $10.19 million in daily inflows on September 1 alone, with a total net inflow amounting to $1.35 billion.
The trading volume in Solana spot exchange-traded funds reached $68.55 million session, with Bitwise being the top demand at $6.17 million and Fidelity at $2.67 million. Morgan Stanley received an extra capital of $1.36 million, while other listed funds showed no new capital.
Solana derivatives volume jumped 23% to reach a new level of 9.43 billion, indicating increased trading activity in the market. The open interest decreased 1.40% to $6.47 billion, suggesting that some traders were unwinding leveraged positions.