Solana and Avalanche Continue To Be the Stars of this Altcoin Season

While the Bitcoin rally appears to be taking a break, all eyes are on prominent altcoins. There, Solana (SOL) and Avalanche (AVAX) can benefit particularly strongly from institutional capital inflows.

Bitcoin (BTC) currently seems to be settling at a price level of around USD 42,000, which leaves room for a look at well-known altcoins. A recent report by CoinShare notes significant capital inflows for Solana (SOL) and Avalanche (AVAX). Let’s take a closer look at the situation, which is considered altcoin season in the crypto scene:

• Solana (SOL) has been in the fast lane for around ten weeks now. CoinShare measures a capital inflow of $2 million in calendar week 49 and $146 million since the beginning of the year. The renewed interest in SOL from institutional investors stems from the endorsements of Solana by big names such as Visa, Shopify and most recently Coinbase.
• According to CoinShare, Avalanche (AVAX) enjoyed an inflow of $2 million in capital last week. Here too, a big name, namely JPMorgan, was the impetus for investors to give Avalanche a higher weighting in their portfolios.
• CoinShare recently noted a slight outflow of institutional capital from Cardano (ADA). However, Cardano is currently catching up, which could be reflected in upcoming reports.
• Even though Ripple (XRP) is currently treading water, XRP is up with $14 million in capital inflow since the New Year.
• According to CoinShare, the USA, Germany and Switzerland are the countries from which the majority of fresh capital is flowing into crypto. Bitcoin (BTC) remains the measure of all things here with more than $1.7 billion since the beginning of the year.

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Conclusion: Altcoin season is led by Solana (SOL)

With some reservations, Polkadot (DOT) could also be added to the group of altcoins that are currently experiencing a tailwind. Solana currently remains the trailblazer for an altcoin season. As with Avalanche, one thing is clear: alongside Bitcoin, institutional investors are particularly interested in cryptocurrencies that cooperate with companies outside the crypto industry.

They are also prepared to take regulatory risks in the US, where the powerful SEC wants to classify Solana and Cardano as securities alongside many other altcoins. For the time being, however, the crypto markets are still waiting for the SEC to approve Bitcoin ETFs, which leaves room for various altcoins to emphasize their own strengths.

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