Ether Rival Solana Catches Attention of Big Institutional Players As SOL Investment Products Witness 27 Straight Weeks Of Inflows




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Solana (SOL) is leading the crypto market with the highest year-to-date gain, according to CoinGecko. SOL has seen a 214% increase, with bitcoin (BTC) and Chainlink (LINK) following behind. As the seventh largest cryptocurrency by market cap, SOL is gaining momentum and investors are jumping on board.

Source: CoinGecko

In October 2023, investment products on the Solana network saw a 74.1% increase, reaching $140 million, according to CCData. The total value locked (TVL) on Solana’s decentralized finance (DeFi) market has also been surging, as shown by DefiLlama data.

Source: CCData

DefiLlama reported that Solana’s TVL reached $378 million after hitting lows of $210 million earlier this year, marking an 80% surge. This rise in TVL reflects increased investor confidence in Solana’s future and reduces selling pressure.

Is Solana Eyeing the $3,000 Level by 2030?

Vaneck, a leading crypto asset management company, believes that if Solana’s user base reaches 100 million, SOL could experience a 10,000% surge and reach $3,211. However, Vaneck also noted that a bearish scenario could see Solana trading below $10.

Solana continues to make waves in the crypto space, particularly in the decentralized finance sector. Coinshares highlighted that SOL has been the most preferred altcoin with significant inflows.



### News source: zycrypto.com

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