Data analytics firm Glassnode recently reported that Solana (SOL) is losing steam compared to Bitcoin (BTC) and Ethereum (ETH). They used a metric called “Realized Cap,” which tracks the price at which coins were last moved, to measure how many holders are profiting or losing.
Solana’s Realized Cap Lagging Behind
Glassnode’s analysis of the monthly percentage change in Realized Cap showed a significant difference:
- Bitcoin (BTC): +10.87%
- Ethereum (ETH): +5.43%
- Solana (SOL):
+2.19%
This means Solana’s Realized Cap is increasing much slower than Bitcoin and Ethereum, indicating a loss of momentum.
Still Seeing Some Positive Inflows
Despite the slower growth, Glassnode pointed out that Solana has seen a consistent inflow of new capital since early September 2023, with only brief periods of outflow. At one point, this inflow reached a whopping $776 million per day!
Current Solana Price and Outlook
At the time of writing, Solana (SOL) is trading around $186.12, down over 1.5% in the last 24 hours.
Disclaimer: This information is for general knowledge only and is not financial advice. Always do your own research before investing in cryptocurrencies./p>
