Analytics firm Glassnode says Solana (SOL) momentum is fading on the monthly timeframe compared to Bitcoin (BTC) and Ethereum (ETH).
On the social media platform
The company notes the monthly percentage change in realized cap for each of the three assets.
“This metric serves as an indicator of the speed and direction of capital inflows or outflows for these assets.
During the recent market downtrend, the monthly rate of change in the realized cap for SOL has fallen below both BTC and ETH.
This suggests a faster decline in Solana’s momentum compared to the other two assets.
Current Monthly Realized Cap Change (%/30D):
• BTC: +10.87%
• ETH: +5.43%
• SOL: +2.19%.”
However, Glassnode noted earlier this week that Solana has had positive net capital inflows since early September 2023, with only minor periods of outflows.
“This sustained liquidity inflow helped fuel growth and price appreciation, reaching a notable peak inflow of $776…”
