Solana ETF outflows hit $72 million in October, SOL price tests $100 support

Solana maintained a price above $100 on Monday, trading near $101.45 despite pressure from ongoing ETF redemptions and a pullback in derivatives market activity. The cryptocurrency, which recently experienced its third consecutive week of decline, remains below its 50-day Exponential Moving Average, with a key support level emerging at $98. Exchange-traded funds focused on Solana saw net withdrawals of $17.30 million last week, according to SoSoValue, bringing total October outflows to $72.24 million. This represents the third consecutive week of negative flows, as investors continued to reduce their exposure to SOL investment products. Ongoing ETF redemptions underscore a weaker appetite for fund-based exposure to Solana, especially while the token trades near critical technical levels.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to CoinTurk News.