Bitcoin trading is now available above $50,000 Chesnot/Getty Images
CoinShares reported that $21 million was earned last week by investors in crypto funds and products.
Solana earned $7.1 million, which is the highest amount of all digital assets.
The price of Solana has been on the rise, more than doubled in August.
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Six weeks of outflows in investment in crypto products and assets were snapped by $21 million in the last week. This was led by Solana, the token that is part of the high-speed, blockchain network. Its value has doubled in August alone.
Solana was the most popular cryptocurrency as inflows of $7.1million outpaced those of other digital assets last week, according to CoinShares, a digital asset manager company, in a Monday update.
Solana is widely considered a competitor for Ethereum, a blockchain platform that allows the creation of smart contracts. Solana's value jumped 75% to $78.72 over a seven-day period ending August 20th. Monday's session saw a 105% increase in price from July's end.
After capital inflows into several projects that are based on Solana’s blockchain, the altcoin has been attracted attention. Serum, a decentralized cryptocurrency exchange created by Sam Bankman-Fried, is located in Solana.
According to CoinShares, crypto funds now have $57.3 billion in total assets, which is the highest since May, and a sign of better investor sentiment.
Ethereum, whose token ether is, received $3.2 million in "minor" inflows last week. Cardano received $6.4 million.
Bitcoin was the most traded cryptocurrency. It had outflows inflows of $2.8million for the seventh consecutive week. This is the longest streak since January 2018. CoinShares stated that while this might suggest negative sentiment, it hides mixed flows across providers.
Bitcoin reached a high of $50,000 Monday. This was the highest level since May 15, and it surpassed Sunday's price for the first time.
