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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 $226m of inflows last week suggesting a positive but cautious investor,” crypto asset manager and research firm CoinShares said in a March 31 report. “Following the largest outflows on record, ETPs have seen 9 consecutive trading days of inflows.”
BTC, ETH And SOL Lead In Inflows
According to the CoinShares report, crypto market leader Bitcoin led the inflow charge after $195 million was poured into BTC investment products.
Among altcoins, Ethereum and Solana led the field with inflows of $14.5 million and $7.8 million, respectively. It was the first time altcoins saw inflows in five weeks.
The inflows into Solana products comes amid a period of strong growth for the Solana ecosystem, especially in the past fortnight. Most notably, the decentralized exchange (DEX) PumpSwap managed to post $2.5 billion in trading volume in just the 10 days after its launch.
Another SOL project, Solaxy, has also seen its presale go parabolic recently, with its total raise already standing at over $28.71 million.
Solana Ecosystem About To Get Its Biggest Upgrade Yet
Solana’s ecosystem growth could continue, with Solaxy poised to introduce the first SOL-focused layer-2 scaling solution to the market.
Up until now, Solana’s growth has been capped by scalability issues. Through proven protocols called rollups, Solaxy will leave Solana’s limitations in the past.
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.
Solaxy will also bridge the Solana and Ethereum blockchains. Not only will this set Solana up to benefit from Ethereum’s inflows, it will also create a new Web3 ecosystem that leverages the strengths of two of the most prominent networks in the crypto space.
Analysts are subsequently bullish on SOLX, which will be positioned as a main transaction medium between Solana and Ethereum.
Among them is crypto analyst and YouTuber Alessandro De Crypto, who has over 14.7K subscribers. In a recent video, he said that SOLX could surge 100X post-launch.
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