Solana's MVRV Ratio Hits Extreme Low Amid Exchange Inflow Surge
Solana's market capitalization has been in focus lately due to its low MVRV Ratio. According to data from Glassnode, Solana's Market Value to Realized Value ratio fell below 0.8, a threshold last seen in May 2022. This reading is considered an 'Extreme Low' and historically occurs during about 5% of trading days.
The influx of tokens to exchanges coincided with this development, with exchange balances increasing by 2.35 million SOL over the past 17 days, worth approximately $202 million at current prices.
Solana traded at $86 as of February 17, down about 70% from its January 2025 peak. Despite the decline in price, Solana's market capitalization remains elevated, ranking seventh among cryptocurrencies with a total value of around $48.5 billion.