Solana (SOL) continues to dominate the cryptocurrency market with stellar performance metrics, leaving Bitcoin and Ethereum in its wake. A recent Glassnode report highlights Solana’s meteoric rise, surpassing major cryptocurrencies in price performance, trading volume, and capital inflows.

Key Highlights:

• 2,000% Surge Since 2022: Solana’s recovery post-FTX collapse has been nothing short of extraordinary.
• $776 Million Daily Capital Inflows: SOL consistently attracts fresh investor capital, signaling strong demand.
• Profitability Across Holder Groups: Over 50% of profit realized stems from diverse holding periods, showcasing a balanced market share.

Solana’s Meteoric Rise

Solana’s journey from a low of $9 in 2022, following the collapse of FTX, to over $263 in November 2024, is a testament to its resilience and investor confidence. The cryptocurrency has surged by more than 2,000%, outpacing both Bitcoin and Ethereum.

A staggering 344 out of 727 trading days since 2022 have seen Solana outperform the two largest cryptocurrencies, reflecting its growing dominance in the crypto landscape.

Record Trading Volumes and Capital Inflows

Glassnode reports that Solana has consistently seen positive net capital inflows since September 2023. With an average of $776 million in daily inflows, SOL’s increased liquidity underscores its growing popularity among both retail and institutional investors.

Source: glassnode

The surge in meme coin activity on the Solana blockchain has also played a pivotal role in driving demand. As SOL serves as the base currency for these transactions, it has pushed trading volumes and price levels to new heights.

Investor Profitability and Market Dynamics

Solana has demonstrated remarkable profitability across its holder base:

• 1 Day–1 Week Holders: $13.7 billion in realized profits.
• 1 Week–1 Month Holders: $14 billion in realized profits.
• 6–12 Month Holders: $15.7 billion in realized profits.

With the Market Value to Realized Value (MVRV) ratio indicating a relatively “heated” market, Glassnode suggests room for further growth before profit-taking intensifies.

The Road Ahead

While Solana’s growth has been exponential, experts caution that its market remains dynamic. With continued demand and strong fundamentals, SOL could sustain its upward momentum before nearing a cycle peak.

Stay tuned as Solana reshapes the cryptocurrency landscape, challenging the dominance of Bitcoin and Ethereum.