{"id":14057,"date":"2025-02-20T07:02:01","date_gmt":"2025-02-20T07:02:01","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=14057"},"modified":"2025-02-20T07:02:01","modified_gmt":"2025-02-20T07:02:01","slug":"solana-more-resilient-than-bitcoin-ethereum-in-this-metric-glassnode-reveals","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=14057","title":{"rendered":"Solana More Resilient Than Bitcoin, Ethereum In This Metric, Glassnode Reveals"},"content":{"rendered":"
\n

The on-chain analytics firm Glassnode has revealed how Solana has recently shown more resilience than Bitcoin and Ethereum in this indicator.<\/p>\n

Solana Has Seen A Smaller Decline In Hot Capital Than Bitcoin & Ethereum<\/h2>\n

In a new post<\/a> on X, Glassnode discusses how the various top coins in the cryptocurrency sector have performed in terms of Hot Capital during the recent market downturn<\/a>.<\/p>\n

The \u201cHot Capital\u201d here refers to an on-chain metric that tracks the recent capital flows for a given asset. The indicator combines the Realized Cap<\/a> of two coin age ranges, 24 hours and 1 day to 1 week, in order to calculate its value.<\/p>\n

The Realized Cap is an on-chain capitalization model that assumes the \u2018true\u2019 value of any token in circulation is equal to the spot price at which it was last transacted on the blockchain.<\/p>\n

This indicator basically represents the total amount of capital that the investors on the network as a whole have used to purchase their coins (which is in contrast to the usual market cap, signifying the value the holders are carrying in the present).<\/p>\n

As such, the Realized Cap of the youngest age bands (24 hours and 1 day to 1 week) tells us about the amount of capital that recently flowed into the cryptocurrency.<\/p>\n

Now, here is a chart that shows the trend in the Hot Capital for Ethereum over the last year:<\/p>\n

\"Ethereum<\/p>\n

As displayed in the above graph, the Hot Capital (black curve) spiked to a high level for Ethereum back in December, implying a high amount of fresh capital was flowing into the asset. Since then, however, the metric has plunged.<\/p>\n

Compared to the December peak, new ETH demand has dropped by over 52%. Bitcoin has also witnessed a similar pattern, with the number one cryptocurrency even seeing a larger drop of 77%. \u201cMomentum has cooled sharply since December peaks,\u201d notes Glassnode.<\/p>\n

Interestingly, while the top two coins have seen this significant cooldown, Solana<\/a> has shown a different trend, as the below chart shows.<\/p>\n

\"Solana<\/p>\n

In December, Solana\u2019s aggregated Realized Cap of the 24-hour and 1-day to 1-week age bands stood at $15.8 billion. Demand has cooled for the coin as well since then, but with the metric today sitting at around $11.8 billion, the difference is of just 25%. Clearly, SOL has shown more resilience than BTC and ETH during this period.<\/p>\n

It now remains to be seen whether this would end up reflected in Solana\u2019s price or not.<\/p>\n

SOL Price<\/h2>\n

At the time of writing, Solana is trading around $172, down more than 12% over the last week.<\/p>\n

\"Solana<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The on-chain analytics firm Glassnode has revealed how Solana has recently shown more resilience than Bitcoin and Ethereum in this indicator. Solana Has Seen A Smaller Decline In Hot Capital Than Bitcoin & Ethereum In a new post on X, Glassnode discusses how the various top coins in the cryptocurrency sector have performed in terms […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-14057","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14057"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14057\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}