Solana beats Bitcoin and Ethereum as capital flows into SOL ETF reach 8 million dollars!

Solana (SOL) is making a notable mark as it rises to the leading position in the digital asset space with a significant gap compared to its competitors. In the past week, this altcoin has attracted inflows of up to 8 million USD into spot ETF funds – surpassing both Bitcoin (BTC) and Ethereum (ETH). Additionally, derivative data also shows that open interest (OI) remains stable around 3.4 billion USD, reflecting strong support from the market, not being influenced by the “fomo” effect or temporary hype.

Solana ETF continues to record impressive results

According to data from Farside Investors, Solana's spot ETFs continue to maintain strong growth, recording a net inflow of 8 million USD on November 11. Among them, Grayscale Solana ETF (GSOL) leads with 5.9 million USD, while Bitwise Solana ETF (BSOL) contributed an additional 2.1 million USD.

Source: Farside InvestorsThis is the second consecutive week that Solana has had stable capital inflow, bringing the total value since its launch to 343 million USD – a remarkable figure compared to Bitcoin and Ethereum products which are showing signs of stagnation.

The derivatives market maintains a balanced state

Despite the strong appeal of ETF funds, Solana's derivative data still shows a stable and balanced market sentiment.

Source: CoinalyzeOpen interest (OI) remains steady at 3.4 billion USD, indicating that investors are maintaining positions without significant liquidation events or substantial leverage increase. The average Funding Rates are at -0.0009, reflecting a slight downtrend but without strong short-selling activity. This indicates that the current strength of Solana primarily comes from spot demand and ETF fund activities, rather than speculative derivative trading. This is a positive signal, reflecting the maturity of the market.

SOL faces an important resistance level

At the time of the survey, Solana was trading around 163 USD, down 2.3% in the past 24 hours with a clear sign of weakening on the daily chart. The RSI index shows that buying pressure is limited despite strong inflows from ETFs, while the CMF at 0.00 reflects a neutral capital flow – the inflow of funds has not yet converted into actual spot demand.

Solana Price Chart | Source: CoinphotonThe current price movement shows that SOL is accumulating after several rejections at the resistance level of 170 USD. If SOL cannot hold above the threshold of 160 USD, it is highly likely to test the support level of 150 USD before it can recover.

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