Solana continues to be an investor favourite as global crypto funds receive inflows of $57 million

<p>Solana is a highly functional open-source project that leverages the permission-less nature of blockchain technology to create DeFi solutions. Over the last year, the cryptocurrency has increased by about 5000 percent.</p> <p>Global cryptocurrency funds experienced their fourth consecutive week of inflows last week, with cryptocurrency Solana alone attracting $50 million, according to digital asset management CoinShares.</p> <p>Due to price appreciation and inflows, Solana's assets under management (AUM) have increased to $97 million, making it the sixth largest investment product.</p> <p>Solana is one of the world's top ten crypto assets, with a market value of over $50 billion. Solana, according to CoinMarketCap.com, is a highly functional open-source project that leverages the permission-less aspect of blockchain technology to create decentralised finance (DeFi) solutions.</p> <p>Over the last year, the crypto asset has increased by nearly 5000 percent, compared to Bitcoin's 350 percent growth.</p> <p>When Bitcoin fell to a low of $44,196 from a high of $52,849 last week, Solana gained 24 percent on a weekly basis.</p> <p>Bitcoin funds stayed unchanged during the week, with inflows totalling only $0.2 million, while Ethereum experienced slight outflows of $6.3 million. Bitcoin had its ninth consecutive week of outflows during the week ended 3 September.</p> <p>“Investment product volumes have already increased 143 percent to $3.8 billion from their lows in early July. This increase in volumes and inflows implies that investors are reviving their activity following the seasonal summer doldrums," CoinShares noted in a Medium blog post.</p> <p>Diversification continues to be a trend among investors, with inflows of $3.5 million, $3.2 million, $3.1 million, and $1.7 million into Cardano, multi-asset, Ripple, and Polkadot, respectively.</p> <p>Grayscale, the world's largest digital asset management, maintained its position as the market leader with a total AUM of $41.84 billion, followed by CoinShares a