Solana ETFs attract R$ 127 million in the largest fundraising in 4 weeks

Source: PortaldoBitcoin Original Title: Solana ETFs attract R$ 127 million in the largest raise in 4 weeks Original Link: https://portaldobitcoin.uol.com.br/etfs-de-solana-atraem-r-127-milhoes-na-maior-captacao-em-4-semanas/ The exchange-traded funds (ETFs) of Solana spot in the United States received US$ 23.57 million (approximately R$ 127 million) in contributions on Wednesday, the highest amount in four weeks, according to available data.

The positive flow occurred while Bitcoin was trading around US$ 97,000, accompanied by an improvement in investor sentiment. On Thursday, Solana was trading around US$ 142, down 2.9% for the day, but up 6.1% for the week.

The recorded net flow provides “a substantial boost to potentially break the recently contained trend of Solana,” according to analysts, adding that this “coincides with a broader market recovery and could push prices to US$ 150 if maintained.”

Consistent demand for ETFs would signal increased institutional confidence in Solana’s robust ecosystem, highlighting the project’s scalability and its real-world utility.

Cautious outlook for altcoins

Despite this, the overall outlook among major altcoins like Solana, XRP, and BNB remains cautious, with gains mainly concentrated in sectors driven by specific narratives, such as privacy coins and memecoins.

The demand size for ETFs may not be enough for a major reversal. “Current demand is not strong enough to sustain upward momentum or cause a clear trend change,” analysts assessed. “The total assets of Solana ETFs represent only about 1.5% of SOL’s market capitalization, and the daily traded volume is less than 1% of Solana’s total volume.”

Solana fundamentals

Despite this, Solana’s fundamentals show points of strength. Nine of the 22 companies that quickly reached US$ 100 million in revenue were built on Solana, according to investment data.

Additionally, a memecoin platform based on Solana doubled its number of active addresses last week, with daily token creation reaching nearly 31,000.

However, experts warn that these positive points exist amid broader network pressure, highlighting declines in total traded volume on Solana’s DEXs, transaction activity, and total application revenue in recent months. “As a result, although certain applications are growing, the network as a whole still faces pressure.”

Considering recent growth in the cryptocurrency market, it is observed that “any apparent delay may be the result of temporary market volatility; this disconnect often precedes upward movements, highlighting the network’s undervalued potential for future gains.”