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Solana Faces Fund Outflows Ahead of Alpenglow Upgrade Following Weekly Drop

Institutional funds linked to Solana recorded consistent net outflows in October, even as the network approaches a technical upgrade to speed up transaction finality.

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Solana fell 10.1% over the past week to trade at $105, alongside a 10% drop in Cardano to $0.23. With a market capitalization of $61.76 billion, Solana sits 64.3% below its all-time high of $293, requiring an advance of nearly 180% to revisit its previous peak.

The network is preparing to deploy its Alpenglow technical upgrade on October 21, which targets reducing transaction settlement finality to approximately 150 milliseconds. Despite this scheduled milestone, institutional sentiment has shown hesitation, with U.S.-listed Solana investment funds recording net redemptions in eight out of nine trading sessions through mid-October, including $1.04 million in net outflows on October 13 alone.

Over the trailing month, Solana rose 5.1%, trailing Cardano's 11.6% gain over the same span. However, the analysis notes that Solana's larger valuation—roughly seven times that of Cardano—positions it closer to previous peaks than many smaller peers.

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