The Tide Appears to Be Turning for Solana

After months of stagnation and capital flight, the tide appears to be turning for Solana

The tide may be turning for Solana (SOL) as its 30-day realized cap inflows flipped back into positive territory, optimistically growing at a 4–5% clip, which is on par with Ripple (XRP).

This is a potential trend reversal from the past few months of capital outflows and a strong indication that demand is returning to the Solana ecosystem, according to on-chain analytics platform Glassnode.

After a few months of realized cap outflows, $SOL is showing signs of a trend reversal. Its 30-day capital inflows are now back in positive territory – growing at ~4–5%, on par with $XRP. This points to a renewed demand returning to the #Solana ecosystem. pic.twitter.com/3FZcykWSzh

— glassnode (@glassnode) May 15, 2025

Usually, the rise in capital inflow signals increasing investor confidence. For a network like Solana, this could foreshadow a surge in both retail and institutional interest.

However, recently the U.S. Securities and Exchange Commission (SEC) postponed its verdict on Grayscale’s proposed spot Solana ETF application until October 2025.

It was indeed a delay: pic.twitter.com/0vipxSI1dl

— James Seyffart (@JSeyffart) May 5, 2025

While this might stall immediate institutional inflows, it doesn’t diminish the broader narrative of Solana gaining mainstream recognition.

In other developments, DeFi Development Corp. announced a purchase of $23.6 million in SOL, its largest yet, bringing its total holding to nearly 596,000 SOL (worth ~$102.7 million), which is being staked either through independent validators or the company’s own.

Legitimizing Solana’s role further in the growing real-world asset (RWA) tokenization space, VanEck launched VBILL, a tokenized U.S. Treasury fund deployed across several blockchains, including Solana.

At the time of writing, SOL trades at $169.23, down almost 6% in the past 24 hours. However, weekly gains stand at 10%.

Using Fibonacci extension levels from the daily chart below, it is clear that the immediate support for SOL is $163.53 (Fib 1.618) while nearest resistance is $177.20 (Fib 2.618), where price was recently rejected.

SOL RSI and Fib levels | Source: TradingView

Next bullish targets stand at $190.87 (Fib 3.618) and $199.32 (Fib 4.236). If $163.53 breaks, next support sits near $155.08 and $149.

On the other hand, the RSI reads 60.19, having dropped from near-overbought levels (70+). This indicates that the price is cooling off from a recent surge but still remains in bullish territory. A bounce from this level could signal renewed buying momentum.

A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.

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