Solana’s $118M Spark: Altcoin Season Back? 🚨

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Key Takeaways

What’s behind SOL inflows?

Recently launched U.S Spot SOL ETFs featuring staking could have been a catalyst. 

Is the altcoin season here?

According to the index reading, “YES.” However, most altcoins are yet to reverse their October losses. 

Solana, that charming rogue, led the market’s recovery last week, with institutional investors throwing their hats into the ring. A veritable avalanche of $118 million flowed in, leaving everyone wondering if the altcoin season is back with a vengeance. 🎩💰

Bitcoin and Ethereum, ever the curmudgeons, led outflows, as if they were grumbling about the new kids on the block. 🤷‍♂️

Oh, how predictable! The U.S Spot SOL ETF debuted last week with such fervor it could have been a West End show. Naturally, the performance was as expected-predictable, yet undeniably thrilling. 🎭

Similarly, XRP ETFs are expected to launch this week, which could have bolstered the institutional inflows. One can only hope they’re as exciting as a rainy Tuesday. 🌧️

Is the altcoin season back?

Hence, the question-can the recovery lead to a broader surge in altcoins? Some altcoins, like NEAR, saw a strong rebound, erasing the losses incurred in October. A triumph, if you’ll excuse the pun. 🎉

However, CryptoQuant data revealed that some players have been selling into the relief rally. Oh, how the clever ones always seem to know when to exit. 🚪

Notably, the Altcoin Exchange Inflow Transaction Count, which tracks selling pressure on exchanges, spiked over the past few days. It illustrated a surge in altcoins moving into platforms for offloading. A classic case of “I’ll take my chances elsewhere.” 📈

Such moves are typical during historical altcoin market recoveries. One might say it’s the price of admission. 🎟️

Worth noting though that BTC dominance and USDT’s share, at press time, suggested that the rebound could extend if broader market sentiment improves. A hopeful note, if you can stomach the uncertainty. 🌈

Interestingly, the BTC bounce to $106k was marked by a dip in BTC dominance from 60% to 59%. This meant that investors rushed to acquire recent, discounted altcoins. A dash of optimism, perhaps? 🎯

However, the sector can only maintain any momentum if the dominance of BTC and USDT continues to decline further. If so, it would illustrate a hike in buying power as investors and traders exchange their stablecoins for their favorite altcoin gems. A spectacle, if nothing else. 💎

And, the expected end to the U.S government shutdown could provide the needed catalyst to keep the upward momentum. A government shutdown? How quaint. 🏛️

According to ETF Store’s Nate Geraci, reopening the government and the ETF market could fuel altcoins, especially XRP. One can only hope they’re as lively as a well-timed punchline. 🎤

Altcoin season index hits 100

From a performance perspective, Cardano [ADA] led the rebound among top crypto assets, with a 9% rally. XRP followed suit with an 8% jump, while ETH gained by 5%. A modest celebration, perhaps? 🥂

According to the aforementioned data, SOL may have led in institutional bids, but ADA and XRP dominated in terms of price chart gains. A tale of two markets, if you will. 🤝

Although the altcoin season index jumped to a strong momentum of “100,” several altcoins are yet to front a meaningful rebound. Some remain stubbornly in October’s shadow, as if they’ve forgotten the party. 🕰️

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2025-11-11 07:10