Crypto funds have continued to demonstrate a high level of inflows in the past week, reaching a monthly record. Investments in Solana and XRP remained strong despite market volatility.
Trends in Inflows into Solana and XRP
Crypto funds recorded inflows of $1.9 billion over the past week, marking the 15th consecutive week of positive net inflows. Of this total, investment in Solana exceeded $311.5 million, significantly up from $39.1 million last week. Inflows into XRP also surged to $189.6 million from $36.1 million, driven by increased interest in XRP ETFs. Crypto assets continued to capture investors' attention, linked to expectations of ETF approvals for Solana and XRP.
Decline in Interest for Bitcoin and Ethereum
While Ethereum received $1.59 billion in inflows, it showed a decline compared to a record $2.12 billion in the previous week. Meanwhile, Bitcoin recorded outflows of $175 million, indicating a capital shift by institutional investors towards altcoins. Various regions showcased both positive and negative trends, with the US recording $2 billion in inflows, while countries like Brazil and Canada experienced outflows.
Price Outlook for Solana and XRP
Options traders are predicting a price rise for Solana to $225 in August, maintaining interest in the asset. Analysts also assert that Solana could reach a new all-time high should it hold above $200. In parallel, XRP is anticipated to hit $4.4 in the early weeks of August, with trading volume increasing by 70% in the past 24 hours, indicating heightened trader interest.
The data indicate that trends in the crypto asset market continue to evolve, with increasing interest in Solana and XRP, while Bitcoin loses its dominant position. Given the dynamics of recent weeks, investors will closely monitor developments related to ETFs and market changes.
