Solana Sees Massive Token Inflow Amid Weak Market Conditions

Solana's SOL token has seen a significant influx of tokens into exchange wallets over the past 17 days, with 2.35 million SOL worth approximately $202 million at current prices entering trading platforms.

This surge in exchange balances coincided with Solana's Market Value to Realized Value ratio (MVRV) falling below 0.8, a level last seen in May 2022.

According to Glassnode data, the MVRV ratio has remained below 0.8 for 26% of recent sessions, indicating a prolonged period of market weakness.

Solana's current price is $86, down around 70% from its January 2025 peak of $294.16, and the token continues to trade within a narrow range between $81 support and $90 resistance.