Solana [SOL] may be seeing early buying from bigger players, long before retail joins in. It looks like institutions are building positions, making this the start of something big.
Bigger capital is here for SOL
Solana Spot SOL ETFs have now crossed $1 billion in AUM, with $35.17 million in inflows last week. The ETF logged five straight positive sessions!
Goldman Sachs reportedly holds a $108 million SOL ETF position. That’s one of the most positive TradFi signals around Solana this year.
Source: AlphractalAccording to data from Alphractal, SOL whale vs retail delta has also been climbing. This means that larger wallets are becoming more active, with weak retail participation.
Larger traders are here to stay
Since February, SOL Futures activity has mostly been big whale orders, even while the price stayed near the lower ranges. What’s interesting is that these big order sizes came during quieter times.
Source: CryptoquantRetail orders were more visible during the November-December decline, when SOL moved lower from around $190 towards $120 on the charts. However, there’s been very little of that as of late.
The idea that bigger players are positioning is very real.
Will retail traders return?
The thesis can be further proved with the spot volume chart, with the same revealing that retail interest has been very weak as it stands.
Since February, Solana’s spot volume has mostly stayed in the “cooling” zone, even as the price stabilized. This is important because spot activity is usually where retail participation shows up better.
Source: CryptoquantIf retail was causing this move, the chart would likely show stronger signs of heating. Instead, spot volumes stayed low while whale-sized Futures orders and ETF flows seemed to stand out.
The current state is most certainly institutions-first. It would be interesting to see what Solana has in store that warrants this belief.
Final Summary
- Solana ETFs are crossing $1B AUM with $35M weekly inflows.
- Institutions are buying while retail stays back.
Source: https://ambcrypto.com/solanas-next-move-may-already-be-in-motion-big-money-is-piling-in/
