Solana Price Consolidation Hides Strong Institutional Demand

The Solana price has been experiencing a short-term consolidation trend within the range of $92 and $76. This consolidation follows a sharp correction trend from late January to early February, allowing sellers to recoup their bearish momentum.

However, despite this price weakness, U.S.-listed spot Solana exchange-traded funds have seen consistent net inflows since early to mid-February. In fact, no outflow days existed in these products during this time period, with streaks of positive flows lasting for some 16 consecutive trading sessions in certain products.

The cumulative flows into Solana ETFs have reached or surpassed $900m since launch, while more generalized crypto ETF categories saw aggregate outflows in excess of $1.4bn over roughly equivalent time frames. This indicates that institutional investors are quietly accumulating Solana despite the price decline.