Institutions love Solana, according to CoinShares’ latest crypto fund report, even when the rest of the crypto space is flat.

“Very little activity was seen in the altcoin space,” wrote James Butterfill, head of research for CoinShares, noting one exception: Solana.

Solana has had a bright 2023, with 27 weeks worth of inflows versus merely four weeks of selloffs. The last seven days were no exception, with institutions pocketing $5 million worth of the asset. According to Butterfill, this has allowed the altcoin to retain the title of “most-loved altcoin this year.”

The success of the one-time “Ethereum killer,” Butterfill told Decrypt, is due to its partnership with many financial institutions, such as payments giant Visa, “while offering ultrafast cheap payments.” He added that despite not having the same number of users or developers that Eth

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Author: Pedro Solimano

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