Solana sees $485M outflows in February as crypto capital flees to ‘safety’

5 months ago 13

Macroeconomic factors, memecoin scams and the industry’s largest-ever hack drove capitalist superior to safer assets, including stablecoins and RWAs.

Solana sees $485M outflows successful February arsenic crypto superior flees to ‘safety’

Solana saw astir fractional a cardinal dollars successful outflows past period arsenic investors shifted to what were perceived to beryllium safer integer assets, reflecting increasing uncertainty successful the cryptocurrency market.

Solana (SOL) was deed by implicit $485 cardinal worthy of outflows implicit the past 30 days, with capitalist superior chiefly flowing to Ethereum, Arbitrum and the BNB Chain.

The superior exodus came amid a wider formation to “safety” among crypto marketplace participants, according to a Binance Research study shared with Cointelegraph.

“Overall, determination is simply a broader formation towards information successful crypto markets, with Bitcoin dominance expanding 1% successful the past period to 59.6%,” the study stated.

”Some of the superior flowed into BNB Chain memecoins, driven successful portion by CZ’s tweets astir his dog, Brocolli,” it added.

Beyond Solana, full cryptocurrency marketplace capitalization dropped by 20% successful February, driven by increasing antagonistic sentiment, Binance Research noted.

Alongside macroeconomic concerns, the crypto capitalist sentiment driblet was chiefly owed to the $1.4 cardinal Bybit hack connected Feb. 21, the largest exploit successful crypto history.

Disappointment successful Solana-based memecoin launches has besides curbed capitalist appetite, peculiarly aft the motorboat of the Libra token, which was endorsed by Argentine President Javier Milei.

The project’s insiders allegedly siphoned implicit $107 cardinal worthy of liquidity successful a rug pull, triggering a 94% terms illness wrong hours and wiping retired $4 cardinal successful capitalist capital.

“Memecoins person evolved from community-driven societal experiments into a chaotic scenery dominated by worth extraction from retail investors,” Anastasija Plotnikova, co-founder and CEO of blockchain regulatory steadfast Fideum, told Cointelegraph, adding:

“Insider rings, pump-and-dump schemes, and sniper groups person replaced the organic, collectible quality of archetypal memecoins, creating an unhealthy playing field.”

Stablecoins, RWAs deed grounds highs amid marketplace uncertainty

Stablecoins and real-world assets (RWAs) roseate to all-time highs arsenic capitalist superior continued to travel into much predictable assets with unchangeable terms oregon yield-generation mechanics.

Stablecoins surpassed the grounds $224 cardinal precocious portion onchain RWAs surpassed a cumulative all-time precocious of $17.1 cardinal crossed 82,000 plus holders, Cointelegraph reported connected Feb. 3.

Binance Research attributed this superior rotation to the caller marketplace turbulence:

“Influenced by macroeconomic factors specified arsenic escalating commercialized tensions and diminished expectations of involvement complaint cuts, the crypto marketplace has had a unsmooth February. In specified an environment, investors whitethorn take to instrumentality chips disconnected the array and clasp stablecoins arsenic an alternative.”

More uncertainty successful planetary hazard assets specified arsenic Bitcoin (BTC) and cryptocurrencies whitethorn thrust RWAs to a $50 billion precocious during 2025, Alexander Loktev, main gross serviceman astatine P2P.org, an organization staking and crypto infrastructure provider, told Cointelegraph.