Institutional Investments in Solana Reach $26M in 9 Months

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Solana (SOL) achieved remarkable results in 2023, with its value increasing by more than 100% in the first quarter alone.

By early September, its value had risen to $20.6. According to CoinShares, almost $26 million was invested into Solana funds by institutional investors since the start of the year.

Furthermore, in the past nine weeks alone, approximately $14.1 million has been made into these funds.

Looking at the Coinglass platform data, open interest for Solana futures increased to $246.38 million on September 5, with most of those contracts coming from Binance ($101.41 million) and Bybit ($82.32 million).

This was backed up by a further $700,000 investment last week.

Louis Adams https://www.satoshihodler.com

I am an experienced crypto news writer. I have been in the industry for many years and believe this tech can bring financial freedom to everyone.