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Solana’s growth was driven by institutional investors, says Glassnode
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THE Solana (SOL) has caught the attention of the crypto market with a surprising recovery since its low in November 2022.
According to a detailed report from Glassnodethe substantial growth of assets is mainly related to significant capital inflows from institutional investors.
After falling to a low of just $9.64Solana saw a notable increase in 2,143% in the last two years. In this way, it managed to consolidate its position as one of the main digital assets.
During this period, the market saw a increase in liquidity of US$55 billiondriven by new capital flows.
Solana surpassed the Bitcoin (BTC) and the Ethereum (ETH) in 344 of the 727 trading days since FTX’s collapse, highlighting its growing demand and competitive performance.
THE Glassnode states that the capital inflows have not only stabilized Solana’s position in the market, but also paved the way for more sustainable growth opportunities.
The report also points out that Solana has accumulated $55 billion in additional liquidityincreasing its Realized Cap of US$22 billion to US$77 billion.
These capital flows surpassed those recorded by Ethereum for the first time before the start of 2024. This milestone reinforces institutional investors’ confidence in the asset.
The findings also show that more than 50% of selling pressure come from currencies held by short-term investors. In other words, those who have held assets for between 6 and 12 months.
This balanced distribution reflects a diverse and confident investor base. Using the relationship Market Value to Realized Value (MVRV)Glassnode concluded that the Solana market is hot, but still away from extreme levels which could lead to widespread profit taking.
Solana’s growth was driven by institutional investors, says Glassnode
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Solana’s growth was driven by institutional investors, says Glassnode
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Solana’s growth was driven by institutional investors, says Glassnode
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Solana’s growth was driven by institutional investors, says Glassnode
