Solana is making waves again, folks. If you've been keeping an eye on the crypto space, you might have caught this buzz from @SolanaFloor on X: Solana-based Exchange Traded Products (ETPs) just pulled in a whopping $706 million in weekly inflows. That's not just big—it's 127% higher than the previous all-time high of $311 million set back in July. For those new to the term, ETPs are like ETFs but for crypto, allowing investors to gain exposure to assets like Solana ($SOL) without directly holding the coins.
This news, reported by SolanaFloor and backed by data from CoinShares, pushes the total assets under management (AUM) for Solana ETPs beyond $5.1 billion. The REX Shares Solana Staking ETF ($SSK), the only U.S.-based SOL ETF out there, is sitting pretty with over $406 million in AUM. What's driving this? It looks like institutional investors are ramping up their SOL positions, possibly betting on upcoming ETF approvals, even as the U.S. faces a government shutdown. Interestingly, Bitcoin ($BTC) is being hailed as a "safe haven" in these turbulent times, per Bloomberg insights.
But let's tie this back to what we love at Meme Insider: meme tokens. With Solana's ecosystem heating up, memecoins and other risk-on assets are stealing the spotlight. According to CoinGecko data, tokens like $USELESS and Believe's $LAUNCHCOIN have surged 82% and 67% respectively over the past week. This influx of capital isn't just inflating SOL's price—it's creating a fertile ground for meme projects to thrive. Low liquidation figures (only $370 million in shorts wiped out in 48 hours, compared to $764 million during BTC's last peak) suggest this rally is driven by spot buying, not leveraged frenzy, which could mean more sustainable growth heading into the end of Q4.
The broader market is feeling the vibe too. Bitcoin touched $125,500, and the total crypto market cap hit a fresh all-time high of $4.29 trillion. Even Michael Saylor's firm pausing BTC buys this week shows the market's maturing beyond single-player influences.
Reactions on X are electric. Users like @NoBanksNearby chimed in with "Solana just went parabolic," accompanied by a fun meme image of an astronaut gazing at moon-themed art—classic crypto humor signaling "to the moon."
Others, such as @AT_XQ, called it "institutional ignition," while @MartinezOnChain keeps the faith with "Always bullish on Solana!" Even @cabbagedotapp summed it up simply: "solana szn baby."
If you're into meme tokens on Solana, this is your cue. Institutional money flowing in could mean more liquidity, more hype, and potentially bigger pumps for your favorite memes. Keep an eye on platforms like Pump.fun or Raydium for the next big launch. As always, DYOR—do your own research—and remember, crypto moves fast.
For more insights on how traditional finance is intersecting with meme culture, stick with Meme Insider. We've got your back on the latest in blockchain memes and beyond.