Investments in cryptocurrencies totaled $474 million in July, mostly reversing an inflow from $481 million in June, although Solana ( SOL ) saw a year-over-year inflow of $114 million, Coinshares reported.
Inflows of digital asset investment products reached $81 million last week, marking the fifth consecutive week of $530 million in five-week total inflows, James Butterfill, head of research for CoinShares, said in a blog post. Bitcoin saw inflows totaling $85 million, while $2.6 million was withdrawn from Bitcoin shorts for the first time in five weeks. North America led the charge, with $15 million and $67 million respectively from the US and Canada. Solana remains a popular investment among investors this year. It has inflows totaling $1.5 million and a year-to-date total of $114 million.
Solana predicts that the coin will double in price or increase by 100% by the end of August. This is due to many improvements provided by the Solana team. Important to note that the Solana web3 Mobile Phone product was released by the Solana team a few days back. This is one of Solana’s biggest products, driving up Solana’s price this year.
The crypto market performed well this month, with most crypto projects staying green this week. Bitgert (BRISE) and Solana (SOL) are among the coins that performed well. The crypto community’s prediction is that Bitgert and Solana are among the coins that could have an upward trajectory this month.
The Solana price increase depends on the featured products. The Solana mobile phone may be the key, but the rapidly growing Solana ecosystem is also important. There are many Solana products and many projects participating in the Solana ecosystem.
Solana DeFi is expected to be one of the fastest growing. So Solana has the potential to fly twice this August, but not as much as Bitgert. However, the Solana team needs to work on more Solana products and add projects that will join the Solana ecosystem. So Solana will face Bitgert this August and both Solana and Bitgert are two projects to watch out for.
