$SOL There were two opposing data points this week, and they seem contradictory when viewed together.
Bearish: According to COINOTAG, U.S. spot SOL ETFs saw net outflows of about $71.47 million during the week of October 26–30—the largest single-week outflow since the products launched. Bitwise and Grayscale saw the most redemptions.
Bullish: On-chain data shows that stablecoin card spending on Solana hit a record $141.1 million in October, setting a new record for the fourth consecutive month. KAST alone processed about $100.4 million, roughly seven times more than a year ago.
SOL is trading at around $92 today, down nearly 3% over the past 24 hours.
My take: Institutional money is pulling back, while payment use cases are growing. In the short term, the price is driven more by ETF flows and the broader market, but the “people are actually using it” trend is worth watching. Which matters more to you: capital flows or real-world usage?
#Solana #StablecoinPayments
For reference only; this is not investment advice.
Bearish: According to COINOTAG, U.S. spot SOL ETFs saw net outflows of about $71.47 million during the week of October 26–30—the largest single-week outflow since the products launched. Bitwise and Grayscale saw the most redemptions.
Bullish: On-chain data shows that stablecoin card spending on Solana hit a record $141.1 million in October, setting a new record for the fourth consecutive month. KAST alone processed about $100.4 million, roughly seven times more than a year ago.
SOL is trading at around $92 today, down nearly 3% over the past 24 hours.
My take: Institutional money is pulling back, while payment use cases are growing. In the short term, the price is driven more by ETF flows and the broader market, but the “people are actually using it” trend is worth watching. Which matters more to you: capital flows or real-world usage?
#Solana #StablecoinPayments
For reference only; this is not investment advice.