Change balances for Solana (SOL) elevated by 2.35 million SOL over the previous 17 days, value roughly $202 million at present costs.
The inflow of tokens to buying and selling platforms coincided with the community’s Market Worth to Realized Worth ratio falling beneath 0.8, a threshold final reached in May 2022.
Glassnode knowledge reveals energetic deposit flows to exchanges spiked earlier this month earlier than moderating.
Regardless of the slowdown in new deposits, alternate wallets proceed holding elevated SOL balances following the multi-week accumulation.
MVRV Ratio and Historic Context
The MVRV Pricing Bands metric tracks Solana’s market capitalization relative to its realized capitalization – the mixture price foundation of all tokens primarily based on their final on-chain motion.
Glassnode classifies readings beneath 0.8 as “Excessive Lows,” a designation that traditionally happens throughout roughly 5% of buying and selling days.
SOL has remained beneath the 0.8 threshold for 26% of latest periods, in response to the info supplier. The final comparable interval occurred in May 2022, when Solana traded between $40 and $50 following broader cryptocurrency market declines.
Following that 2022 trough, Solana remained in a consolidation section for 17 months earlier than starting a restoration in late 2023. The token finally reached an all-time excessive of $294.16 in January 2025 earlier than declining to present ranges.
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Present Value Ranges
Solana traded at $86 as of February 17, down roughly 70% from its January 2025 peak.
The token has oscillated between $81 assist and $90 resistance over latest periods, with a descending trendline connecting decrease highs since early 2026.
Change influx knowledge sometimes displays promoting stress, as tokens moved to buying and selling platforms are extra available for liquidation. Nevertheless, elevated alternate balances can even point out improved liquidity for potential patrons in periods of value weak point.
SOL holds a market capitalization of roughly $48.5 billion, rating seventh amongst cryptocurrencies by complete worth.
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