According to CoinShares data, digital asset investment products saw $117 million inflows last week, the largest since July 2022, while total assets under management (AuM) have risen to $28 billion, up 43% from their November 2022 lows.

While the focus seemed to be almost entirely on Bitcoin, which saw $116 million in inflows last week, altcoins such as Solana saw inflows as well.

Solana is sustaining its second week of inflows as sentiment around its blockchain has generally improved. Solana investment products saw inflows of $1.1 million in the past week, surpassing those of the previous week, where inflows of $0.1 million were recorded.

Solana saw a remarkable rebound after declining over 42% in the wake of the FTX implosion. Once dubbed an “Ethereum killer,” Solana was once the darling of FTX co-founder Sam Bankman-Fried.

In late December 2022, Solana’s token price steadily declined before plunging by as much as 20% on Dec. 29. Following Ethereum founder Vitalik Buterin’s support tweet, SOL’s price has more than tripled since then.

The January price bump has seen the cryptocurrency reclaim the $26 level as its price has risen. According to CoinGecko data, SOL is up 1.3% in the last seven days and 149% higher in the last 30 days. The crypto asset traded at $24.58 at press time.

SOL reclaimed the 10th spot on the list of largest cryptocurrencies by market cap before losing this spot to Polygon MATIC at press time.

Earlier in January, Citi Research published its report on Solana, saying that activity on the blockchain remained high. It also noted that a handful of key metrics had returned to pre-FTX-collapse levels, suggesting relief for some users on the chain.

Sharky.fi, an NFT lending protocol on Solana, has shared information on the migration to a new standard of NFTs.

As stated in a thread of tweets, Solana is migrating to “programmable NFTs,” or pNFTs. This refers to a new standard of NFTs introduced by Metaplex to help creators get their royalties back.

1/ Solana is migrating to pNFTs – here is everything you need to know so all of us are kept up to date 🤝

⏩ Everyone in the space should care about this change 👀

— Sharky 🦈 NFT-backed loans (@SharkyFi) January 25, 2023

Metaplex refers to the Solana-powered protocol that allows for the creation and minting of non-fungible tokens, auctions and visualizing NFTs in a standard way across wallets and applications.

The new asset class, “programmable NFTs,” will exist alongside “normal NFTs” and may likely become the predominant standard for royalty enforcement going forward.

The pNFT standard would allow creators to decide which protocols their NFTs are or are not allowed to interact with. This would be achieved by modifying allow-and-deny lists.

According to Sharky.fi, most of the top marketplaces, AMMs, lending protocols and staking protocols are actively working on adding support for it. It further indicated that a decent chunk of the NFT collections on Solana might migrate there in the next 30 to 60 days.

Already Solana’s crypto wallet for DeFi and NFTs, Phantom has indicated support for the Metaplex royalties enforcement standard with programmable NFTs, saying “pNFTs represent a huge step forward for the ecosystem and its creators,” while adding it was on track for a Feb. 15 release across all platforms.

Programmable NFTs now deployed on mainnet

As stated on the official Metaplex Twitter handle, programmable NFTs have now been deployed on the mainnet.

1/ Programmable NFTs are now deployed on Mainnet 🦾

Developers (incl. marketplaces & wallets) can use the latest stable version of Token Metadata to integrate the new pNFTs instructions

— Metaplex (@metaplex) January 26, 2023

It urges developers, marketplaces and wallets to use the latest stable version of token metadata to integrate the new pNFTs’ instructions.

It further adds that creators would only be able to upgrade existing collections to pNFTs with royalties enforcement when more than 50% coverage of the new asset class has been reached across marketplaces and wallets.