After several months of capital outflows, Solana (SOL) is signaling a potential trend reversal as capital inflows return to Solana, says crypto market analytics.
Solanaโs Capital Flows Shift
Recent data from Glassnode reveals that 30-day capital inflows into Solana have turned positive again.
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According to a crypto market analysis firm, these inflows into one of the top American blockchains have increased 4 to 5%, matching the pace of XRP (XRP).
โThis points to a renewed demand returning to the #Solana ecosystem,โ Glassnode claims.
In February 2025, Solana saw over $485 million in capital outflows as investors moved to safer assets due to macroeconomic uncertainty
Solanaโs Market Share Grows
SOL dominance metric, which shows Solanaโs share of the total cryptocurrency market capitalization, also went up by 11% over the past week, reaching 2.87% on Wednesday, before todayโs pullback.
This typically indicates that Solana is gaining a larger share of the market, as investors are directing more capital into it compared to other crypto assets, signaling growing confidence and momentum in the Solana ecosystem.
The total value locked (TVL) on the Solana blockchain has also grown significantly, rising from April lows of $6.2 billion to $9.18 billion. Key DeFi platforms like Marinade, Jito, and Raydium have led the charge, posting significant growth in activity with increases of 60%, 44%, and 85%, respectively.
SOL Recovery Faces Headwinds
Over the past week, Solana has shown resilience and determination to recover, climbing more than 30% since the beginning of May and reaching the $185 level yesterday.
This surge followed a major investment from NASDAQ-listed DeFi Development, which injected millions into Solana with the goal of acquiring it as a long-term strategic reserve asset.
And although today SOL, along with the broader crypto market, pulled back to the $171 level,
crypto traders are discussing that Solanaโs recent recovery attempt may be facing challenges, as technical indicators point to bearish signals.
โSOLโs bounce attempt is running into headwindsโMACD and open interest are still bearish, and fresh capital inflows are lagging,โ claims crypto app Alvaโs official X account.
Indeed, on the daily timeframe, Solanaโs MACD lines are beginning to converge, indicating weakening bullish momentum, while the RSI has dropped to 61.8 from overbought levels and crossed below its 14-day moving average, which is a classic signal of a potential short-term correction.
Why this matters
Solana is widely seen as one of the leading U.S.-based blockchain ecosystems. A return of capital inflows and growing DeFi activity suggest renewed investor interest and confidence.
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