Solana ETFs have attracted over $350 million in net inflows over the past 11 days, highlighting strong institutional interest. However, the price of Solana remains capped at around $155 due to significant supply pressure from Alameda Research's token unlocks. The bankruptcy estate of Alameda Research/FTX is releasing approximately 193,000 SOL, valued at $30 million, into exchanges daily as part of a court-ordered process.
Since November 2023, between 8 and 9 million SOL have been liquidated, totaling about $1 billion. Despite these challenges, Solana's decentralized exchange (DEX) trading volumes have surged, recently surpassing $5 billion daily, outpacing both Ethereum and BNB Chain.
Solana ETFs Attract $350M Amid Alameda's $1B Token Unlocks
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