According to reports from AMBCrypto, June has historically been a weak period for both Ethereum and Solana, with this month continuing that trend. Ethereum was down 17.1% month-to-date at press time, already worse than its historical June average of -7.68%. Solana's fall was worse at 20.5%, with its historical June average appearing less negative but the median return remaining weak. The data shows that while ETH's June weakness has been consistent, SOL's drop has certainly been more severe compared to its usual performance over the month.
As reported by AMBCrypto, Ethereum Spot ETFs have experienced significant outflows this month, with daily netflows at around $35.59 million at the time of writing. Total net assets were near $8.96 billion, but the demand has not been strong enough to support the token's price. Solana's ETF scene appeared smaller, with daily net inflow remaining flat and total net assets around $729.15 million. While SOL hasn't faced the same outflows as ETH, there also hasn't been enough positive momentum to offset the sell-off.
According to AMBCrypto analysis, despite the recent dip, traders have not fully exited ETH and SOL yet. Ethereum's aggregated Open Interest was still around $10.06 billion, while its funding rate remained slightly positive at 0.0040. At press time, traders' positions were still very much open, though conviction looked a little less strong than earlier in the month. Solana's Open Interest was near $1.80 billion, with funding also positive at 0.0070. With funding only mildly positive, it might mean that the market isn't sure yet, but it also definitely signals that traders haven't given up completely.
