Solana is maintained trend of daily positive capital net flows over the past year, surpassing Bitcoin and Ethereum in price performance.
Notably, Solana has experienced a steady inflow of capital since September 2023, reaching a peak of $776 million in daily inflows this year, according to a blockchain analytics firm. Glass nod.
Solana sees capital gains despite the absence of ETFs
This growing liquidity has contributed to Solana's impressive price value, with the crypto asset rising more than 2,143% from its November 2022 low of $9.64, a price point it has revisited on the back of the counting from the FTX explosion.
Despite the lack Solana exchange traded funds (ETFs), SOL has he managed to attract substantial investment. In contrast, Bitcoin and Ethereum have benefited from the introduction of spot ETFs, which have encouraged more institutional investment and contributed to their market growth.
For example, the spot approval of Bitcoin ETFs earlier this year resulted in impressive capital flows, with investors injecting $36 billion into these funds, amassing assets of around $110 billion.
However, the US Securities and Exchange Commission (SEC). been lazy to allow Solana ETF spot bids. The Crypto Basic level confirmed that the SEC plans to reject filings from multiple fund managers seeking to launch such products.
In particular, this stance may be due to regulatory uncertainty and investor protection concerns. Despite regulatory hurdles, Solana has shown remarkable growth and resilience.
Since its November 2022 cycle low, the digital currency has surpassed Bitcoin and Ethereum in price gains. According to Glassnode data, Solana outperformed Bitcoin and Ethereum in price movements on 344 of 727 days after the FTX is going down.
SOL has room to grow
Also, the capital inflows have greatly increased Solana's Realized Cap, which reflects the total value of coins in circulation based on their most recent trading prices. From January 2023 onwards, Solana's Realized Cap grew from $22 billion to an impressive $77 billion, representing an incredible increase of $55 billion in liquidity.
At the same time, the analysis of investor activity shows that both short-term and long-term holders have contributed to taking profit in this period.
Coins that are held for periods from day to week, week to one month, and they have six months to a year have been assistants to sell-side pressure, each accounting for a substantial portion of profits realized. Nevertheless, this balanced distribution suggests that Solana attractive to a diverse investor profile.
Although speculation has occurred, Glassnode's analysis shows that investors have not yet reached the unprofitable levels that the market typically sees before long-term market peaks -time. This indicates that Solana's value may have room for further growth in the ongoing market cycle.
Solana right now today stands at 187.83 % compared to yesterday three day performance that ended with a run above $201 on Christmas Day. At this time, SOL must secure close to full body over $200 to move forward.
Recall: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect The Crypto Basic opinion. Readers are encouraged to do their due diligence before making any investment decisions. The Crypto Basic is not responsible for any financial loss.
Source: https://thecryptobasic.com/2024/12/26/solana-sustains-capital-inflow-since-september-2023-hitting-a-daily-peak-of-776m-this-year/?u tm_source=rss&utm_medium=rss&utm_campaign=solana-sustains-capital-inflow-from-September-2023-to-hit-a-daily-peak-of-776m-this-year
