Solaxy (SOLX) Leads the Charge as Inflows Return to Crypto Investment Products

Solana and layer-2 presale token Solaxy (SOLX) are among the biggest winners as inflows into crypto investment products return.

Digital asset investment products saw net inflows of $226m last week suggesting a positive but cautious investor towards the asset class, crypto asset manager and research firm CoinShares said in a report on Friday. This compares with outflows of $1.3bn the previous week.

Following the largest outflows on record, ETPs have seen 9 consecutive trading days of inflows. BTC saw inflows of $195m and ETH saw inflows of $14.5m, whilst SOL saw inflows of $7.8m—the first time altcoins saw inflows in 5 weeks.

The post Solana (SOL) And Layer-2 Presale Token Solaxy (SOLX) Among Biggest Winners As Inflows Return - Report appeared first on TokenPost.

Solana and layer-2 presale token Solaxy (SOLX) are among the biggest winners as inflows into crypto investment products returned last week, according to a report by crypto asset manager and research firm CoinShares.

Digital asset investment products saw net inflows of $226m suggesting a positive but cautious investor towards the asset class, CoinShares said on Friday. This compares with outflows of $1.3bn the previous week.

Following the largest outflows on record, ETPs have seen nine consecutive trading days of inflows. BTC saw inflows of $195m and ETH saw inflows of $14.5m, whilst SOL saw inflows of $7.8m—the first time altcoins saw inflows in five weeks.

According to the report: “This week saw a return to positive flows, with digital asset investment products posting net inflows of $226m over the seven days to 31 March, compared with outflows of $1.3bn the previous week, which were the largest on record.

“Following the largest outflows on record, ETPs have seen nine consecutive trading days of inflows. Bitcoin saw inflows of $195m and Ethereum saw inflows of $14.5m, whilst Solana saw inflows of $7.8m—the first time altcoins saw inflows in five weeks.”

This week also saw a return to positive flows into digital asset investment products, with total inflows reaching $226m.

CoinShares Total Digital Asset Investment Product Flows

Among altcoins, notably, Solaxy has seen its presale go parabolic recently, with its total raise already standing at over $28.71 million.

Meanwhile, PumpSwap, a decentralized exchange (DEX) on Solana, managed to post $2.5 billion in trading volume in just the 10 days after its launch.

Solaxy is set to introduce the first SOL-focused layer-2 scaling solution to the market. Through proven protocols called rollups, Solaxy will leave Solana’s limitations in the past and open up new possibilities for the ecosystem to flourish.

One of the ways that Solaxy helps Solana scale is by processing transactions off the Solana mainnet and on its own layer-2 sidechain. There, it bundles transactions before submitting them to Solana for final validation.

Moreover, Solaxy will bridge the Solana and Ethereum blockchains. Not only will this set Solana up to benefit from Ethereum’s inflows, but it will also create a new Web3 ecosystem that leverages the strengths of two of the most prominent networks in the crypto space.

This could be a major factor in attracting more institutional investors to the Solana ecosystem.

After the recent price drop, SOL is trading at around $73.54 at the time of writing. It has dropped by 0.88% in the past 24 hours.

The post Solana (SOL) And Layer-2 Presale Token Solaxy (SOLX) Among Biggest Winners As Inflows Return - Report appeared first on TokenPost.