Analytics company Glassnode shared remarkable data on the recent market performance of Solana (SOL). Bitcoin (BTC) $94,486.3 and Ethereum (ETH) 
$3,349.0 It is stated that Solana’s momentum has decreased compared to . Glassnode emphasizes that this decline is a critical indicator for understanding the capital flow dynamics in the cryptocurrency market.
Low Increase in Realized Cap Metric
According to the data published by Glassnode on the social media platform X, less activity was recorded in Solana’s Realized Cap metric on a monthly basis. This metric calculates the market value of each cryptocurrency based on its last transaction price. Glassnode used the following statement: “The Realized Cap metric shows the speed and direction of capital inflow and outflow. Solana’s Realized Cap exchange rate remains lower than Bitcoin and Ethereum.”
The failure of Solana’s Realized Cap exchange rate to outpace BTC and ETH during the recent market correction confirms the decline in its momentum. This data reveals the slowdown in Solana’s market dynamics.
Positive Capital Flow Continues
Another statement from Glassnode shows that Solana has provided positive net capital flow as of the beginning of September 2023. The company stated that there were only short-term capital outflows during this period. “Continuous liquidity inflow supported growth and price increase. It was stated that “new capital inflow of 776 million dollars per day has reached its peak.”
The impact of this flow on Solana’s market performance is noteworthy. The long-term positive effects of the liquidity increase are closely watched by investors.
Solana is trading at $186.12 at the time of publication. SOL, which ranks sixth in the market value ranking with this figure, experienced a 1.5% loss in value in the last 24 hours. Investors are carefully monitoring the future impact of this decline in the Realized Cap metric and positive capital flows.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
