Crypto
Solana Exchange Balances Surge Amid Low MVRV Ratio
Solana's network has seen an influx of tokens to trading platforms over the past 17 days, with exchange balances increasing by 2.35 million SOL, worth approximately $202 million at current prices.
The surge in exchange inflows coincided with Solana's Market Value to Realized Value (MVRV) ratio falling below 0.8, a threshold last reached in May 2022.
This reading indicates that the market capitalization of SOL is now lower than its realized value, which has historically occurred during about 5% of trading days.