Solana News Today: Institutions Shift $118M to Altcoins as Bitcoin Faces Outflows

In a move signaling renewed institutional interest in cryptocurrencies, Solana (SOL) emerged as the top performer in institutional inflows last week, attracting $118 million in capital from major players. This surge outpaced outflows seen in Bitcoin and Ethereum, with the altcoin season index hitting 100—a level indicating robust momentum for alternative cryptocurrencies. The influx of funds into Solana was driven by the launch of U.S. spot SOL exchange-traded funds (ETFs) featuring staking capabilities, which have drawn substantial demand from investors seeking yield.

The altcoin rally, however, is not uniform. While Solana and Cardano (ADA) led in price gains—up 5% and 9%, respectively—XRP faced a reversal, with $15.5 million in outflows reported. Despite this, the altcoin season index suggests a broader recovery, as many assets begin to rebound from October losses. Analysts attribute this shift to the rotation of capital away from Bitcoin, whose dominance dipped to 59%, and into high-yield altcoins.

Meanwhile, Canadian Solar Inc. (CSIQ) is making strides in the energy storage sector, securing a major contract to deliver a 1,858 MWh energy storage solution for Ontario's Skyview 2 project. The initiative, developed in partnership with the Algonquins of Pikwàkanagàn First Nation, underscores the company's expanding footprint in North America. CSIQ's e-STORAGE subsidiary will supply 390 units of its SolBank 3.0 system, with commercial operations expected by Q2 2027. The project adds to CSIQ's growing pipeline, which includes 24,332 MWh of battery storage projects in North America.

The energy storage market is poised for significant growth, with a projected 16.1% CAGR through 2032. Canadian Solar's stock has surged 167.7% over six months, outpacing the industry's 33.9% gain. Competitors like SolarEdge Technologies and Enphase Energy are also capitalizing on the trend, with SolarEdge surpassing 500 MWh of residential battery storage enrolled in virtual power plant programs.

In the broader crypto market, institutional flows remain sensitive to regulatory developments. The recent outflows in Bitcoin and Ethereum highlight cautious positioning, but the rise of staking-enabled ETFs and a recovering altcoin index suggest renewed appetite for diversified exposure. As the U.S. government's policy uncertainty persists, analysts warn that further outflows could occur without clearer guidance.