Solana More Resilient Than Bitcoin, Ethereum In This Metric, Glassnode Reveals

Glassnode, a blockchain data analysis firm, examined how much recently invested capital ("Hot Capital") has flowed into Bitcoin, Ethereum, and Solana. This "Hot Capital" metric combines the value of coins traded within the last 24 hours and between one day and one week. Ethereum's Hot Capital has decreased by 52% since its peak in December, while Bitcoin's has dropped by 77%. Solana, however, has only seen a 25% decrease in Hot Capital since its December peak of $15.8 billion, currently sitting at $11.8 billion. This suggests that relatively more capital has continued to flow into Solana compared to Bitcoin and Ethereum during this period. Solana is currently trading around $172, down 12% over the last week.