Solana Exchange Balances Surge Amid MVRV Ratio Downturn

Solana's exchange balances have seen a significant increase of 2.35 million SOL over the past 17 days, valued at approximately $202 million at current prices.

This influx coincided with the network's Market Value to Realized Value ratio falling below 0.8, a threshold last reached in May 2022.

According to Glassnode data, active deposit flows to exchanges spiked earlier this month before moderating.

Solana has remained beneath the 0.8 threshold for 26% of recent sessions, with the last comparable period occurring in May 2022 when the token traded between $40 and $50 following broader cryptocurrency market declines.