Solana (SOL) is experiencing a reversal in capital flow, now receiving inflows at a rate comparable to XRP, according to on-chain data from Glassnode. This shift indicates renewed investor interest in Solana after a period of capital outflows earlier in the year. The 30-day percentage change in Solana's Realized Cap has surged back into positive territory, reflecting inflows of 4-5%, similar to XRP.
The Realized Cap, which measures the total cost basis of an asset's circulating supply, shows a significant change for Solana. After a downturn that saw the indicator turn negative for several months, Solana's Realized Cap has rebounded. This suggests a potential return of demand for the Solana ecosystem, rivaling that of XRP.
Despite the positive inflow trend, Solana's price has experienced a pullback. Earlier in the week, SOL broke beyond $180, but has since fallen back to $170. This price movement highlights the volatility in the cryptocurrency market, even amidst positive on-chain indicators.
This article is based on our author's analysis of materials taken from the following resource: X (formerly Twitter).