Analytics firm Glassnode reports that Solana’s monthly momentum is declining compared to Bitcoin and Ethereum. The Realized Cap metric, which tracks the price at which coins were last moved, shows that Solana’s performance is slipping faster. Currently, the monthly change in Realized Cap for Bitcoin is up by 10.87%, Ethereum is up by 5.43%, while Solana stands at just 2.19%. However, since early September 2023, Solana has seen a positive net capital inflow with only minor outflows, reaching a peak of $776 million in new capital per day. As of now, Solana (SOL) is priced at $186.12, experiencing a slight decline of over 1.5% in the past 24 hours.
Analytics firm Glassnode has recently highlighted a shift in the momentum of Solana (SOL) when compared to Bitcoin (BTC) and Ethereum (ETH). According to their analysis, Solana’s performance on a monthly basis is faltering, with a notable decline in its Realized Cap metrics. This metric tracks the last price at which each coin was moved, shedding light on the number of holders who are either profiting or incurring losses.
Glassnode shared their findings on the social media platform X, emphasizing the percentage change in Realized Cap for Bitcoin, Ethereum, and Solana. The data indicates that during the current Market downtrend, Solana’s Realized Cap change has dropped below both BTC and ETH. Specifically, the percentage changes over the last 30 days are as follows:
– Bitcoin: +10.87%
– Ethereum: +5.43%
– Solana: +2.19%
This downward trend points to a more rapid decline in Solana’s momentum compared to its counterparts.
Despite this waning momentum, the analytics firm noted that Solana has experienced a positive net capital inflow since early September 2023, with only brief periods of outflow. This influx of liquidity has played a vital role in driving growth and boosting Solana’s price, achieving a remarkable peak inflow of $776 million in new capital per day.
As of now, SOL is trading at $186.12, reflecting a slight dip of more than 1.5% in the last 24 hours. Traders and investors should stay informed about these trends as the Market evolves.
Tags: Solana, Bitcoin, Ethereum, Glassnode, cryptocurrency analysis, Market trends, Realized Cap, digital assets.
What is Solana’s diminishing momentum compared to Bitcoin and Ethereum?
Solana is showing less growth and excitement compared to Bitcoin and Ethereum. This might mean it’s not attracting as much new interest or investment recently.
Why does Glassnode say Solana is losing momentum?
Glassnode points out that Solana is not seeing the same level of trading activity and user adoption as Bitcoin and Ethereum. This could be due to increasing competition and Market changes.
Is Solana still a good investment?
It depends. Some people believe it has potential for growth in the long run, while others see more promise in Bitcoin and Ethereum. Always do your research before investing.
What can cause Solana’s momentum to improve?
If Solana introduces new developments, partnerships, or enhances its technology, it could attract more users and investors, helping to boost its momentum.
How can I keep track of Solana’s performance?
You can follow financial news websites, crypto Market platforms, and social media channels. These sources can provide updates on price changes, Market trends, and new developments in Solana.
