- Solana and Avalanche have emerged as hot altcoins, gaining investor attention and integrations with major companies like Visa, Shopify, and JP Morgan.
- Prices of Solana’s SOL token and Avalanche’s AVAX have surged over the past week, with AVAX up 66% as investors continue allocating funds to crypto investment products.
- The integrations and price jumps highlight Solana and Ava
Solana and Avalanche have emerged as hot altcoins that are grabbing investor attention despite Bitcoin remaining the dominant focus. Recent interest in these two layer-1 networks has been fueled by major companies exploring their potential use cases.
Renewed Investor Interest in Solana and Avalanche
Investment continued flowing into crypto funds last week, with Solana and Avalanche standing out as altcoin winners. According to digital asset manager CoinShares, funds providing exposure to Solana and Avalanche received inflows of $3 million and $2 million respectively last week.
This renewed interest comes after recent blockchain integrations by major companies. Investment bank JP Morgan said in November it had used Avalanche to tokenize portfolios, while both Visa and Shopify announced partnerships involving Solana’s blockchain.
Price Performance
The prices of Solana’s SOL token and Avalanche’s AVAX have surged over the past week. SOL is up 15% over the past 7 days, trading around $69. AVAX has jumped even more, gaining 66% in the past week to around $36. In the past day, AVAX was one of the top performers, adding 9% even as the overall market struggled.
Continued Inflows for Crypto Investment Funds
According to CoinShares, crypto investment products saw their 11th consecutive week of inflows, totaling $43 million. The firm said investors remain focused on Bitcoin, allocating $20 million to BTC investment products last week.
Year-to-date inflows into Bitcoin funds now stand at $17 billion. Analysts believe the prospect of a Bitcoin ETF approval is drawing more big money investors into the crypto space.
Conclusion
The renewed interest in Solana and Avalanche highlights their potential to gain ground on Ethereum and Bitcoin. With major companies utilizing both networks and prices surging, the two layer-1s are grabbing attention as investors continue pouring cash into crypto funds. Their integration with Visa, Shopify, and JP Morgan validates Solana and Avalanche as projects to watch closely in the months ahead.
