![Solana YTD inflows suggest it’s the 'most loved altcoin’ — Solana YTD inflows suggest it’s the 'most loved altcoin’ — CoinShares](https://justsomecrypto.com/wp-content/uploads/2023/09/Solana-YTD-inflows-suggest-its-the-most-loved-altcoin-—-678x381.jpg)
Solana (SOL) investment products clocked $26 million worth of inflows since the start of 2023, outpacing all other altcoins including Ethereum, suggesting its the “most loved altcoin amongst investors” according to CoinShares.
In a Sep. 4 Digital Asset Fund Flows weekly report, CoinShares’ head of research James Butterfill noted that trading volumes for crypto investment products for the week ending Sep. 1 were 90% above the year-to-date average — with crypto product outflows dropping to $11.2 million.
It marks a seven-week run of negative sentiment that’s seen $342 million leave crypto products over that time but YTD, investment products remain net inflow positive at $165 million.
The outflows haven’t affected Solana products however, which saw weekly inflows of $700,000 — the ninth straight week in a row with inflows of $14.1 million over that time and YTD inflows of $26 million.
![](https://s3.cointelegraph.com/uploads/2023-09/85a2789b-f7c5-47f2-8719-b78468d2b6ca.png)
Bitcoin (BTC) products were the only other asset to see weekly inflows, totaling $3.8 million, while Short BTC, Polygon (MATIC) and Ether (ETH) products all recorded weekly outflows.
![](https://s3.cointelegraph.com/uploads/2023-09/bc75d581-cca2-4e69-b0dc-adcf85958678.png)
Solana’s inflows come amid a streak of recent positive developments related to the network.
On Sep. 1, MakerDAO co-founder Rune Christensen submitted a proposal to build the project’s upcoming native chain off a fork of Solana’s codebase, despite its long-held ties to Ethereum.
On Aug. 23 it was reported that Shopify added the Solana-based payment network Solana Pay to its payment options — starting with the stablecoin USD Coin (USDC).
The Solana network has also seen some performance and reliability improvements, with only oe outage in 2023 so far.
Related: Bitcoin ETF applications: Who is filing and when the SEC may decide
SOL’s price is up around 95.5% YTD but has traded mostly sideways around $20 to $25 since mid-January. It was trading at around $19.5 as of 12 am UTC Sep. 5 according to Cointelegraph data.
However, SOL is down 92.5% from its November 2021 all-time high of nearly $260.
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