Solana (SOL) Relative Capital Flow Hints Further Growth Ahead: Glassnode

Godfrey Benjamin
December 21, 2024 Updated June 28, 2025
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Here’s Why Solana Price Could Skyrocket to $400 This Month

Highlights

  • Solana is maintaining a more robust capital flow than top rivals like Ethereum
  • Glassnode report spotlights more rallies ahead of Solana
  • The potential emergence of a Solana ETF product can further drive growth

Beyond ETF hype, Solana (SOL) is under the spotlight following a new report from crypto analytics platform Glassnode. Per the report, Glassnode highlighted the movement of capital across the Solana asset. Glassnode pointed out that since the cycle low in November 2022, the coin has outperformed both Bitcoin (BTC) and Ethereum (ETH).

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Solana Rally Is Not Over

After dropping as low as $9.64 following the collapse of FTX Derivatives Exchange, SOL price made a comeback with 2,143% growth. The analytics firm hinted that of the past 727 trading day, SOL outperformed Bitcoin and Ethereum on 344. This proves the coin had a reasonably high demand since FTX’s collapse.

Beyond price action, SOL also overtook Ethereum as a top ecosystem for developers, complementing the overall boom.

As Glassnode revealed, this growth has forced the an influx of capital into the asset class. By percentage growth, SOL now have more growth in this metric than BTC and ETH across 389/727 trading days. Overall, the Proof-of-Stake (PoS) network has seen a net liquidity increase of $55 billion, setting it up for price appreciation.

Using the Hot Realized Cap metric for capital flow among new investors, Glassnode also revealed that the protocol is outpacing Ethereum. It noted that for the first time in history, the Solana Hot Realized Cap has flipped that of Ethereum.

In addition, Glassnode also employed the Net Realized Profit/Loss metric, a benchmark for on-chain capital flows.

As revealed by the analytics platform, the coin has maintained positive flow since at least September. Concluding, it pointed out that despite the recent slip that pushed SOL price down to $175.9, there is room for more growth.

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Fundamentals Keep Driver Optimism – Solana ETF

One of the most important factors that drove the price of SOL this year was the explosion of memecoins. While this products focused on the retail aspect of the market, asset managers are now pushing for a SOL ETF product for institutional investors.

Canary Capital, Bitwise and 21Shares are among the firms pioneering this Solana ETF pursuit. Notably, there are reasons to believe that this product will get approval under the Donald Trump administration. Amid the shift in policy, the President-elect has nominated Paul Atkins, a pro-crypto regulator, as the next US SEC Chairman.

With Atkins and several industry lobby groups, more crypto ETFs including that tracking Solana are imminent. If achieved, SOL price may soar to $400 as projected in a previous price analysis.

 

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.