Journalist
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Key takeaways
Why is TSOL experiencing strong inflows?
TSOL saw $5.7 million in daily inflows as institutions look to the newly listed Solana ETFs for new exposure.
What supports Solana’s bullish setup?
SOL’s $120 demand zone remains intact and whale accumulation is increasing, strengthening the outlook for a potential reversal towards $170.
After its debut on November 20, 21Shares’ TSOL quickly became the top performer among Solana spot ETFs, seeing $5.7 million in inflows over the past 24 hours.
The daily figure topped all other listed Solana ETFs and pushed total cumulative daily ETF inflows to $10.58 million, pointing to a new wave of institutional interest in the asset.
Source: SoSoValue
TSOL tops daily entries
TSOL’s early dominance shows that investors could look to newly listed funds for better exposure.
Meanwhile, inflows are also coming as Solana (SOL) continues to sit in a critical price zone, with the $120 demand zone still acting as a key support level.
Despite the recent volatility, price continues to react strongly around this area, making this area a key price zone for the altcoin’s next move. The resistance zone at $170 could be the next target if a successful reversal occurs.
Source: TradingView
Markets weigh on management
Alongside ETF activity, Solana whales are accumulating orders in the spot market which has also seen a notable rise.
Long-term Solana holders have continued to add more SOL at current levels despite the recent price decline. Whale activity aligns with the broader trend of institutional accumulation over the past few weeks.
The developments indicate increased confidence in the potential trend reversal anticipated for SOL.
As the previous pattern shows, retail traders typically follow the whales, and it may only be a matter of time before they participate in the accumulation phase.
The combined efforts could amplify the impact on token price action.
Source: CryptoQuant
Will the influxes help Solana bounce back?
The combination of TSOL’s strong debut, increasing cumulative ETF flows, and increased whale participation creates a mixed near-term outlook.
On the one hand, the inflows show that the institutional appetite for SOL remains intact, while on the other hand, the price still needs a strong catalyst to avoid falling below the $120 zone.
The key question in the coming sessions remains whether the increase in demand will be enough to trigger a reversal or whether declines will drag the market lower.
But as things stand, Solana’s metrics are turning bullish. In fact, it may only be a matter of time before the same thing happens again on the price chart.
