Solana is making headlines again — this time, for all the right reasons. Over the past month, SOL price has recorded over $120 million in network inflows, a signal that institutional and retail confidence in the Layer 1 blockchain is rising rapidly.
The data, originally reported by Cointelegraph and blockchain analytics platform Flipside, confirms what many have suspected: Solana is not only recovering but repositioning itself as a serious contender to Ethereum’s dominance in the smart contract arena.
Ethereum Loses Ground as Capital Flows Shift
What’s especially notable is where this capital is coming from. According to the latest figures:
$41.5 million was bridged to Solana from Ethereum
$37.3 million from Arbitrum
$14.6 million from Base
$10.6 million from BNB Chain
$5.4 million from Sonic
These figures tell a compelling story — capital is migrating from traditionally dominant chains like Ethereum to faster, cheaper alternatives like Solana. The shift is particularly striking considering that just months ago, SOL price saw $485 million in outflows following the controversial LIBRA meme coin scandal in Argentina.
Today, that narrative has flipped. Solana is the destination, not the departure gate.
Meme Coins and DeFi Activity Fuel the Frenzy
The recent surge in SOL price has been fueled by more than just DeFi. Meme coins like Dogwifhat (WIF) and Book of Meme (BOME) have reignited trading activity on Solana, driving users and liquidity alike.
These tokens are not just speculative playgrounds — they represent a cultural shift, drawing in younger traders and community-driven capital that once solely belonged to Ethereum’s NFT and meme ecosystems.
“Solana’s speed and cost-effectiveness are winning the hearts — and wallets — of a new generation of crypto users,” said analyst Reyna Hou from BlockMetrics. “It’s not just about infrastructure anymore. It’s about where the excitement lives.”
SOL Price: Still Bearish — But Primed?
Despite the influx of funds, SOL price remains in a bearish technical structure. At the time of writing, Solana is trading near $136.22, struggling to break above the $140 resistance.
According to technical analysis, the 50-day exponential moving average (EMA) continues to act as a ceiling. A convincing breakout would require a daily close above $147, which would signal a reversal in momentum. Until then, traders are cautious.
Complicating the picture is a bearish divergence between SOL price and the relative strength index (RSI) on lower time frames, suggesting that a short-term pullback is possible before any meaningful rally.
Support remains strong between $115 and $108, with $130 acting as a critical pivot zone due to heavy recent accumulation.
Price Table: Solana vs Competitors
| Asset | Price | 24h Change | 7d Change | Market Cap |
|---|---|---|---|---|
| Solana (SOL) | $136.22 | -1.45% | +4.18% | $62.9 Billion |
| Ethereum (ETH) | $3,134.88 | -0.67% | +2.72% | $376.8 Billion |
| Arbitrum (ARB) | $1.04 | -2.91% | +1.88% | $2.76 Billion |
Conclusion: Solana’s Rebirth Signals More Than Just Hype
SOL price inflows may be driven by meme frenzy and market sentiment, but there’s a deeper narrative taking shape. With users, capital, and developers beginning to view Solana as a faster, cheaper, and culturally relevant alternative to Ethereum, the blockchain is no longer a dark horse — it’s a full-fledged challenger.
Still, until SOL’s price confirms the bullish momentum with a breakout above $147, traders should tread with cautious optimism.
FAQs
Why is Solana seeing increased network inflows?
Solana has received over $120M from Ethereum and other chains, driven by memecoin activity, lower fees, and faster transactions.
Will SOL price rally due to these inflows?
Not yet. SOL is still below key technical resistance and must break above $147 to confirm a bullish trend.
How does this affect Ethereum?
Ethereum has seen outflows as users seek alternatives. However, it still leads in TVL and developer activity.
What’s next for Solana?
If price momentum catches up with network activity, Solana could enter a new phase of adoption and growth in 2025.
Glossary of Key Terms
Network Inflows – The movement of funds into a blockchain from external sources or other chains.
EMA (Exponential Moving Average) – A technical analysis tool that smooths price data to identify trends.
Bearish Divergence – A situation where prices are rising but technical indicators suggest weakness ahead.
Relative Strength Index (RSI) – A momentum indicator used to measure the speed and change of price movements.
Pivot Zone – A key price level that acts as support or resistance based on historical trading activity.
Sources
CoinMarketCap
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