Solana ETP Flows Jump, ETH Supply Inflation

Name: FS Insight
Price range: $$$

Oct 9, 2023

BTC -3.42% DYDX 2.35% ETH 1.76% ETHBTC

Market Update Equities are flat as investors digest the Israel-Hamas conflict that erupted over the weekend. Oil prices gained 4.5% while Bond markets are closed for the holiday. Beyond the geopolitical uncertainty investors will be looking to releases on inflation data from PPI and CPI, in addition to FOMC minutes later this week. $BTC is trading at $27.5k after retracing from $28k, where confluence of both the 200 day and weekly MAs have continued to hold as resistance. $ETH is trading at $1.58k, extending its underperformance against BTC as $ETHBTC reached new yearly lows of 0.0572. $DYDX is the only token among the top 100 moving higher today, gaining 2.6% likely in anticipation of its appchain launch, which could potentially revamp tokenomics for the decentralized derivatives project. Last week, Solana ETPs witnessed their largest inflows since March 2022, securing $24 million. Digital-asset investment products saw their highest weekly inflows since July, totaling $78 million. Flows were driven predominantly by Solana and Bitcoin, with Bitcoin accounting for $43 million. Regionally, Europe was the frontrunner, accounting for 90% of the inflows, while the combined contribution of the U.S. and Canada was just $9 million. Trading volumes for exchange-traded products exp

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