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COINTURK NEWS > Solana (SOL) > Solana Sees Strong Net Inflows and Price Growth
Solana (SOL)

Solana Sees Strong Net Inflows and Price Growth

In Brief

  • Solana experiences remarkable growth with significant net inflows.

  • Prominent financial institutions are launching new projects on Solana.

  • Experts view Solana's current valuation as undervalued compared to Ethereum.

Fatih Uçar
Fatih Uçar 8 months ago
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Solana $156 is recently attracting attention with significant net inflows and robust price increases. As the fifth-largest cryptocurrency, Solana is gaining value due to new developments that are not tied to memecoins.

Contents
Solana Surpasses Ethereum in InflowsSolana Expands Beyond a Cryptocurrency

Solana Surpasses Ethereum in Inflows

According to data platform Artemis Terminal, Solana has achieved strong net inflows over the past three months, outperforming all blockchains. Despite Ethereum $2,540 having the highest inflow and outflow during this period, Solana took the lead with a net inflow of $992.6 million.

September 12 stands out as the day with the highest net inflows, where Solana recorded a staggering net inflow of $655.1 million.

Solana Expands Beyond a Cryptocurrency

Solana is increasing its adoption due to real use cases. At the recent Solana Breakpoint Conference, the Play Solana Gen1 portable gaming device, specifically developed for Web3 games, was introduced.

The crypto-friendly travel booking platform Travala is utilizing the Solana Blockchain to facilitate flight and accommodation bookings with SOL, USDT, and USDC.

Financial giants Citigroup and Franklin Templeton have announced new projects on Solana. Citigroup will test cross-border payments on Solana, while Franklin Templeton plans to create a mutual fund on the blockchain.

VanEck’s Market Vector report indicates that Solana is currently undervalued and could rise to half the market capitalization of Ethereum. These developments are seen as positive signs for Solana’s future.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Fatih Uçar 27 September, 2024 - 10:08 am 27 September, 2024 - 10:08 am
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