Solana’s leveraged trade found new conviction on February 26, as ProShares Ultra Solana ETF SLON drew $3.11 million in fresh inflows despite recent price weakness in the underlying token. The move lifted assets under management to $18.18 million, with the latest haul amounting to roughly 17.1% of the fund’s total size.
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The related asset, SOL-USD, is currently trading at $87.45 after a bruising three months in which it has shed about 33.8% of its value. Short-term traders appear cautious, with a 1-day technical signal flashing Hold, underscoring uncertainty over whether the recent downturn is nearing exhaustion.
SLON’s sizable inflow suggests that some investors see the pullback in Solana as an opportunity to add leveraged exposure at depressed levels. Yet the concentration of new money in a single day, and amid a neutral technical backdrop, also highlights the speculative nature of these bets and the potential for sharp swings in either direction.
For a more detailed analysis and real-time sentiment trends, check the live cryptocurrency prices here.