Even as SOL’s price dropped and the broader cryptocurrency market continued to be under pressure, Solana exchange-traded funds (ETFs) increased their inflow streak to seven days in a row.
According to data from investment management company Farside Investors, Tuesday witnessed the biggest inflows of the time, with over $16.6 million going into SOL ETFs.
According to Farside data, net inflows into Solana ETFs have totalled $674 million as of this writing.
Open Interest in SOL Futures Is High Despite Price Pressure
According to statistics from blockchain analytics company Nansen, there is already over $447 million in open interest in Solana perpetual futures, which are contracts with no expiration date.
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At the same time, the price of SOL has decreased almost 55% from the peak of around $295 which was reached in January. The hike happened due to the increased network activity associated with the airing of the Trump memecoin.
SOL has been consistently trading below its 365-day moving average, which is an important technical support level, since November. The token has suffered a decline of approximately 47% from its local high of nearly $253 in September.
