Solana Demonstrates Higher Resilience Than Bitcoin and Ethereum Amid Market Downturn

According to on-chain analytics firm Glassnode, Solana (SOL) has shown greater resilience than Bitcoin (BTC) and Ethereum (ETH) in terms of "Hot Capital" during the recent market downturn. The "Hot Capital" metric, which tracks recent capital flows by combining the Realized Cap of 24-hour and 1-day to 1-week coin age ranges, reveals that new ETH demand has dropped by over 52% since December, while Bitcoin saw a larger drop of 77%. In contrast, Solana's aggregated Realized Cap for the same age bands decreased by only 25%, from $15.8 billion in December to approximately $11.8 billion today. As of today, Solana is trading around $172, down more than 12% over the last week.