Solana (SOL), nicknamed the ETH killer and an institutional investor favorite asset is known for making a significant rebound in the crypto market. Like other cryptocurrencies, Solana recorded outflows last week due to geopolitical tensions as investors withdrew funds from risky assets.
Solana trades at $144, a 5.2% increase in the last 24 hours lowering weekly losses to 4%. These gains of SOL have outpaced several top coins that also picked up gains in the market. Bitcoin is up 1.16% while Ethereum posted slight 0.5% gains.
BNB increased by 1.91% while Dogecoin (DOGE) and Avalanche (AVAX) notched 2.17% and 1.50% respectively.
Why The Trend?
Recently, the rise of SOL usually outpaces the market, a factor that has gleaned investors to the r asset. Last year the asset soared over 900% on the back of institutional investment in its products. Institutional investors are a reason why Solana outpaces several assets.
Solana’s investment products recorded consecutive inflows last yea
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